Biden deals potential blow to proposed Twin Metals mine
The Biden administration has dealt a potential blow to the Twin Metals Minnesota mine by imposing a ban on new leases in the Rainy River Watershed. The administration is also…
There is good news in the energy world, for a change. Enbridge has announced that they have completed construction on the Line 3 pipeline, and that oil will begin flowing through the replacement pipe on Oct. 1, 2021.
The completion of the pipeline could not come at a better time because the average price of gasoline in the United States is now $3.28 per gallon, the highest they have been since the Obama administration, according to U.S. Energy Information Administration (EIA) data.
Oil is a global commodity, which means the price of oil is largely dicated by the international forces of supply and demand. However, the new Line 3 will help keep prices in the United States in check by affordably delivering more oil American refineries.
In fact, the upgraded Line 3 will start delivering more oil to the United States than we import from Saudi Arabia, according to the EIA.
Opponents of the Line 3 pipeline claimed we shouldn’t replace the aging pipeline becasue we don’t need the oil. Nothing could be further than the truth. Oil accounted for 35 percent of our total energy consumption in 2019, whereas wind and solar provided just five percent of our total energy and one percent, respectively.
Europe is learning the hard way that rules and regulations aimed at reducing the supply of energy result in skyrocketing prices and energy shortages. This has led to self-inflicted energy rationing in the developed world.
Unfortunately, many lawmakers in Minnesota seem keen to repeat Europe’s failed energy strategy, but the completion of the Line 3 replacement project will help keep our energy supplies more reliable and affordable, which is something every Minnesotan should celebrate.