Energy update. The International Energy Agency released a report this week predicting that global demand for oil will increase in 2014. Meanwhile, the United States continues to delay approval of the Keystone XL pipeline. The 1,700-mile pipeline would transport crude oil from Canada to oil refineries in Texas. Apart from increasing the supply of reliable oil from a North American ally, the Keystone pipeline will create about 20,000 jobs and lead to about $20 billion in private sector investment. Canada is currently considering whether to adopt a plan to curb their own carbon emissions, which may help get approval for the pipeline from President Obama. Meanwhile, a group of 25 House Democrats want the President to delay approval until more environmental studies can be completed.
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