Companies such as Chevron, Exxon-Mobil, and BP may be directly affected by this declaration. The pipeline project may be a key source of revenue for many multinational companies as well as smaller companies. As such, the government’s decision could be detrimental to margins, earnings announcements, and future direction.
One important aspect of the decision is that many oil rigging jobs are at stake. The Keystone XL pipeline is extremely large, traveling from Canada to Nebraska. In order to maintain efficacy across all points of contact, hundreds, if not thousands, of jobs will be required for maintenance. Although the decision may be beneficial for some aspects of the American economy, jobs will suffer as a result of the legislation.
