Canadian oil sands currently account for more than 1 million barrels/day of U.S. oil imports. The U.S. is stalling refinery and pipeline projects needed to further develop these reserves--the Keystone XL pipeline is one example. The 1,661-mile Keystone XL pipeline would deliver Canadian crude oil to Gulf of Mexico refineries, supporting jobs across America and generating $775 billion in GDP for America.
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Rapid growth in natural gas production, thanks to vast shale deposits and hydraulic fracturing, is reviving America’s manufacturing and other sectors while helping reduce U.S. carbon emissions to a 20-year low.
U.S. crude oil production has reached its highest point since 1997, due to production from shale and other tight rock formations, while reducing imports to their lowest level in more than 20 years.
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