Even before the most recent election, TransCanada's (NYSE: TRP ) Keystone XL pipeline was a contentious issue. On one side, environmentalists fear that a pipeline running through the heart of our country could lead to a disastrous incident of spilled crude from Canadian oil sands. Countering that argument are those that say it would tremendously benefit the entire nation. Rep. Paul Ryan clearly falls on the latter side of this debate.
In addition, he supports an open season on federally owned land. In his plan, this will add trillions of dollars to U.S. GDP over the next 30 years. The Department of the Interior will be getting a head start on this soon in the Gulf of Mexico. Look for the likes of Hercules Offshore (NASDAQ: HERO ) , Seadrill (NYSE: SDRL ) and Transocean (NYSE: RIG ) to benefit.
The following video offers key data points which Rep. Ryan uses to support his budget plans. This discussion is far from over, so understanding both sides is critical for informed debate.
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