Even before the most recent election, TransCanada's Keystone XL pipeline was a contentious issue. On one side, environmentalists fear that a pipeline running through the heart of our country could lead to a disastrous incident of spilled crude from Canadian oil sands. Countering that argument are those that say it would tremendously benefit the entire nation. Rep. Paul Ryan clearly falls on the latter side of this debate.
In addition, he supports an open season on federally owned land. In his plan, this will add trillions of dollars to U.S. GDP over the next 30 years. The Department of the Interior will be getting a head start on this soon in the Gulf of Mexico. Look for the likes of Hercules Offshore , Seadrill and Transocean to benefit.
The following video offers key data points which Rep. Ryan uses to support his budget plans. This discussion is far from over, so understanding both sides is critical for informed debate.
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The article Rep. Paul Ryan's Plan for Keystone XL and Federal Land originally appeared on Fool.com.Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Seadrill. The Motley Fool owns shares of Seadrill and Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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