Keystone Pipeline

The Keystone Pipeline project that was pushed back last month is now being brought back in action. This pipeline would transport crude oil from Canada's oil sand regions to refineries along the U.S. Gulf Coast.

"TransCanada (TRP), the company that wants to build the pipeline, says Keystone would create 20,000 'direct' jobs. That includes 13,000 construction jobs and 7,000 jobs making stuff like pump houses and the pipe itself.

It also projects nearly 120,000 'indirect' jobs -- think restaurant workers and hotel employees to support the construction."

While this project does have the potential to create more jobs, there is a downside as well. Firstly, TransCanada reports that only around 100 permanent jobs will be created by this project. Furthermore, there are environmental issues that could arise with this new pipeline.

"jobs could also be lost due to crop failures or other events associated with higher pollution levels the oil sands would bring. And it said more oil would mean a decline in green jobs."

Furthermore, "one study from Cornell University said the pipeline could actually lead to a decline in jobs in the long run. One reason is that the pipeline would lead to higher fuel prices in the Midwest, the study said, and that would slow consumer spending and cost jobs."

So do you think this project will actually help? Or will it simply cost more jobs than it will create? Is this project worth it?

A step towards bipartisanship?

The senate's newest Republican member, Scott Brown, chose to side with the Democrats this week on a new bill directed towards job creation. Although the issue is pretty moderate, he joins only four other Republicans in his support. "I hope my vote today is a strong step toward restoring bipartisanship in Washington," Brown said in a statement. During the highly hyped election that he eventually won, he spoke of how he was not entirely devoted to Republicans on all issues.

I think this is an excellent way to (hopefully) begin some bipartisan efforts in congress. I'm tired of hearing both sides criticize one another, and optimistic about Brown's choice. I hope it sets the stage for more compromise in Washington. Obama called it a "major step forward" and has also promised to continue to incorporate Republicans into the creation of the bill.

The job creation bill proposes a $15 billion package of tax cuts and highway spending. It's also a good example of Keynesian economics, (government intervention during an economic crisis), on a more nerdy note!