New Pipeline Tax Numbers
Former Plains Justice Staff Attorney Paul Blackburn recently produced a new analysis comparing current taxation of Nebraska crude oil pipelines with TransCanada’s claims about tax revenue from Keystone XL. Blackburn concludes that TransCanada, once again, has grossly overestimated the tax benefits of a proposed pipeline, based on pipeline tax records from Federal Energy Regulatory Commission reports and a recent South Dakota press report documenting much lower tax revenue from the Keystone I pipeline than originally projected by TransCanada.
This table from Blackburn’s report compares TransCanada’s tax estimates from the Final Environmental Impact Statement for Keystone I to taxes paid in 2010 according to TransCanada’s own reporting:
TransCanada’s filings offer no explanation for the discrepancy.