WASHINGTON, Nov. 14, 2011 /PRNewswire/ -- The United States Hispanic Chamber of Commerce (USHCC) announced today its support for swift action on the proposed Keystone XL pipeline, which will allow the importing of a dependable source of crude oil from Canada with American refining demand on the Gulf Coast in Texas.
The USHCC urges President Obama to order the U.S. State Department to approve the pipeline swiftly. The pipeline is projected to add $20 billion into the economy and create 20,000 construction jobs. The indeterminate timeline put forward by the Administration this week will only forestall needed economic job growth. The Administration's delay will only endanger a potential engine of job creation and hinder American competitiveness.
Canadian Natural Resources Minister Joe Oliver has recently reiterated his country's commitment to develop the oil sands, regardless of the Keystone approval. Without swift approval of the pipeline, Canada will begin selling directly to Asian markets. The USHCC believes that the United States cannot afford to allow the pipeline related jobs and income to be shipped overseas.
"We believe that Keystone XL should be approved and built as soon as possible," says USHCC Board Member, Marc Rodriguez. "The USHCC supports the Keystone XL pipeline not only for the economic benefit it will bring to the state of Texas, but to the entire country."
This September, Rodriguez represented the USHCC in a public comment meeting before federal officials in Austin. The meeting was one in a series of meetings along the pipeline route in several states, as well as in Washington, which allowed an opportunity for those who support or oppose the Keystone XL project to express their views.
"The industrial sector represents a significant part of our organization's success and that of Hispanic businesses in America," says Javier Palomarez, USHCC President and CEO. "With the Keystone Pipeline expected to create thousands of jobs in the construction, refinery, and other crucial industries across the country, we look at this as a major opportunity for Hispanic businesses to benefit."
About the United States Hispanic Chamber of Commerce
Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of nearly 3 million Hispanic-owned businesses in the United States that combined generate in excess of $420 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.ushcc.com.
SOURCE United States Hispanic Chamber of Commerce