One of the more controversial current events today is the passage of the Keystone XL pipeline. Everyone has their reasons for supporting it or wanting plans shelved permanently. One group of senior advocates, 60 Plus, came out last year in support of the pipeline – and the reasons may surprise you.
Keystone XL Pipeline and the Delays
“60 Plus urges the Obama administration not to appease the environmental activists and avoid delaying further the approval of the Keystone XL Pipeline. We simply cannot afford to leave our future energy and economic prosperity 
in the balance any longer,” said a spokesperson. He continued, “Unfortunately, earlier this week, the White House indicated that approval of the pipeline may not come until next year; and this is welcome news for those opposing the project. But with government programs destined to be cut by the Supercommittee… projects like the $7 billion Keystone XL pipeline are essential for Americans operating within a strict budgetary framework.” If the pipeline is not approved, the group insists, the over dependence on “unfriendly sources” will become greater and will leave the U.S. as a whole vulnerable while upping the danger level for national security.
Because the pipeline has the capacity to bring up to 500,000 barrels of oil to the United States, consumers will have access to more secure and more affordable energy. We know how difficult the economy’s been especially on older Americans. Those on fixed incomes want assurances that the government is looking out for their interests and lower fuel costs is most certainly one way to protect those interests. So determined is the group, it says the Obama Administration must “ignore the noise” from those who oppose the pipeline. They want a faster approval and failure to do so can only further weaken the economy.
Remember, this has been years in the making, though even after several studies show that the pipeline serves no significant environmental threat. Concerns are the delays are putting more than $6 billion at risk that will be pushed onto the taxpayer. It could also jeopardize programs for the elderly, including Medicare and Medicaid.
This is a very important truth that could very well threaten the future for all of us.
Meanwhile, Canada has already said that each day approval is delayed, it costs more than $1 million and Canadian ambassador to the United States, Gary Doer, also noted that Obama approving the pipeline makes the difference though it must be done soon.
For millions of older Americans, the idea of government programs being cut due to the pipeline delays is wrong on a number of levels.
For now, the pipeline debates are front and center again – with the same support as before. To learn more about what those delays might mean for those wishing to create or update their estate plans, contact our offices today. The future of our older Americans should rest so heavily on whether a pipeline is approved and what any delays could mean.
Daniel DeBruyckere
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