The Biden administration is reportedly weighing the potential market consequences of shutting down an oil pipeline in Michigan, drawing criticism from opponents.
Former Michigan Gov. Jennifer Granholm, Biden’s energy secretary, predicted Sunday that heating prices will rise this winter regardless of the Biden administration’s decision on the pipeline. “Yeah, this is going to happen. It will be more expensive this year than last year,” Granholm told CNN.
The administration has yet to decide on what to do with Line 5 and officials were gathering information only to present a clear picture of the situation, according to sources who spoke to Politico.
Line 5 is part of a network that moves crude oil and other petroleum products from western Canada, transporting about 540,000 barrels per day. Petroleum is taken from the pipeline in Escanaba, Michigan.
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{Matzav.com}