Keystone Pipeline: Bad for Business and the Economy, Business Leaders Say

WASHINGTON, Feb. 21, 2013 /PRNewswire-USNewswire/ -- Business leaders with the American Sustainable Business Council (ASBC) opposed the proposed Keystone XL pipeline as financially unfeasible and damaging to the economy.

While fossil fuel industry leaders and some of their down stream user companies defend the pipeline, ASBC business leaders are emphasizing their support for a clean energy economy, calling on President Obama to reject the pipeline.

In a letter to President Obama the business leaders write: "The pipeline promises to set the United States further back on several major fronts while a comparable investment in renewable energy would create significantly more jobs, provide energy for domestic use, increasing the country's competitiveness."

"Contrary to what fossil fuel-led industry groups say, the pipeline makes no business sense," said David Levine, American Sustainable Business Council. "It's not economically viable without government support and imposes substantial costs on the economy by producing dirty, expensive oil and increasing emissions linked to climate change. We need to invest in clean energy, providing opportunities for an innovative 21^st century."

"Businesses on the forefront of modern economics understand that the U.S. should be leading, not lagging, in the production and export of clean energy technology," says Fran Teplitz, Green America.

"The time has come for U.S. business leadership on climate change," said Chris Miller, with Ben & Jerry's.  "Climate change places our supply chains at risk, and threatens the very social and economic way of life for those who can least afford to adapt."

"Seventh Generation takes great care to protect the planet for future generations," says Ashley Orgain, Seventh Generation. "We proudly stand alongside others calling for bold U.S. leadership away from fossil fuel energy and projects like the Keystone pipeline."

"A Columbia University study found that the impact of the pipeline on jobs is likely to be minimal and temporary," said Julie Gorte, Pax World Management. "Investment in renewable energy has a more lasting positive impact on employment, and won't carry the same risk of catastrophic impacts on climate change." 

"For the global business community, one of the most visionary and transformative gestures that President Obama can make is refusing to endorse the Keystone pipeline, proving that we're committed to the most sustainable and cleanest energy strategies," said Mark McLeod, Sustainable Business Alliance.

Info:  www.asbcouncil.org

SOURCE American Sustainable Business Council (ASBC)