Want to know why gas prices are so high? The Daily Signal, the publication of the Heritage Foundation, has prepared this short video to explain it all for you.
On his first day in office, President Joe Biden revoked the Keystone XL pipeline permit via Executive Order 13990. With the stroke of a pen, Biden canceled a project that would have boosted U.S. gross domestic product by more than $3 billion, carried 830,000 barrels of oil daily from Canada to the United States, and directly and indirectly provided up to 26,000 jobs—11,000 of which were instantly lost.
Climate czar John Kerry lent a sympathetic voice to the plight of the newly laid-off workers: “Go to work to make the solar panels.”
At least there's no more mean tweets!
The reason the Keystone XL is so important is that HEAVY crude oil from Canada (something nonexistent in the USA except the offshore Louisiana Mars oilfield) is needed for major refineries in TX and LA. Note that Saudi Arabia's Motiva expanded its Port Arthur Refinery by 325,000 BPD specifically designed for HEAVY crude oil and originally scheduled for completon at the same time that Keystone XL was originally scheduled to be completed a decade ago.
Reversing the 1.2 million BPD Capline was aways in the cards but even that is not enough to fill demand at the Gulf Coast.
FTR, U.S. refineries are already using all of the very light crude oil from the Permian Basin that they can without losing ,money from less throughput caused but such light crude oil, actually condensate but for ignorant Congressional action in the 1970's which made the legal definition "crude oil"