[KirinDave]

Or we could decline to expand our oil industry further, on the grounds that the long term economics of the industry are a poor prospect and it makes little sense to continue encouraging its growth in the US.

This project really doesn't have many positive externalities for its host nation. For an administration that's "America First" they're been very quiet about who actually benefits. Some few Americans do.

[VickBear]

Can you actually explain how it doesn't benefit USA? All the studies I read explained the economic impact it will have on the states it goes through after completion.

[snuxoll]

Sure, it'll benefit executives at Energy Transfer Partners, Phillips 66, etc. since they'll have an easy way to transfer oil to be shipped overseas. The states as a whole? Please. The number of permanent jobs this pipeline will create are pathetically low, a couple of people to man an oil field and a couple dozen to deal with the pipeline itself.

Eventually there's going to be less reliance on the USA for refined petrol as more nations move towards renewable energy sources, so the market will eventually correct itself I suppose - but I don't see any reason to help the oil companies make one last push to milk it for all they can before the money dries up.

[VickBear]

You are forgetting about taxes going to states. A lot of indirect economic boom surfaces as well. Check out the economic studies for the pipeline.