News From PCCA...

To advance the nation's economic recovery, create new construction jobs, and provide an additional, long-term stable energy supply, John Deere supported the TransCanada Keystone XL Pipeline Project in a May 25 letter to Secretary of State Hillary Clinton.

The Keystone Pipeline, which would run between Alberta, Canada and Texas, with a spur to Illinois, has the potential to move more than 700,000 barrels of oil a day to the U.S. from Canada. Public comments will be considered for the issuance of a Presidential Permit for the project, which is required because the effort spans the U.S.-Canadian border.

Deere supports the project because it would generate billions of dollars toward economic recovery, create 20,000 new construction jobs and help reduce America's dependence on overseas oil. The project would also benefit states and local communities at a time of record budget deficits due to falling revenues and high unemployment, providing more than $585 million in new taxes for states and communities along the pipeline route. Keystone XL would also pay more than $5.2 billion in property taxes during the operating life of the pipeline.

The project would infuse much needed private sector investments in our nation's infrastructure--estimated at more than $20 billion--at zero cost to U.S. taxpayers.

Following is Deere's letter.

Dear Secretary Clinton:

On behalf of John Deere and our customers engaged in the construction of pipelines throughout the United States, I would like to take this opportunity to comment on the Supplemental Draft Environmental Impact Statement (SDEIS) for the TransCanada Keystone XL Pipeline Project released by the Department of State on April 15, 2011. We appreciate your agency's thorough analysis of the Project's environmental impact. The information provided in the original and supplemental EIS indicates the proposed Project would result in limited adverse environmental impacts during both construction and operation. The Project's pipeline system would be designed, constructed, and maintained in a manner that meets or exceeds industry standards and regulatory requirements.

Numerous planned mitigation measures will be implemented by TransCanada in order to address concerns raised by constituents during the public comment period. In light of the foregoing, we want to express our support for a prompt and favorable decision from the Department of State for the TransCanada Keystone XL Pipeline Project.

Deere & Company is a world leader in providing advanced products and services and is committed to the success of customers whose work is linked to the land--those who cultivate, harvest, transform, enrich and build upon the land to meet the world's dramatically increasing need for food, fuel, shelter and infrastructure. Since 1837, John Deere has delivered innovative products of superior quality built on a tradition of integrity.

We believe the Keystone XL Pipeline Project will create U.S. jobs, generate much needed private investment in our nation's infrastructure resulting in increased tax revenues, and reduce our nation's dependence on overseas energy sources.

The Keystone XL Pipeline Project is estimated to infuse private sector investments of more than $20 billion into the U.S. economy, at no cost to U.S. taxpayers, and create about 20,000 construction and manufacturing jobs which will increase the personal income of American workers by $6.5 billion. John Deere employs thousands of workers in U.S. manufacturing facilities, including three large construction equipment factories. These factories produce equipment sold through independently owned dealerships throughout the United States to customers in the construction industry, an industry still struggling to recover from the economic downturn.

The Keystone XL Project is expected to generate more than $585 million in new taxes for states and communities along the pipeline route. Keystone XL will pay more than $5.2 billion in property taxes during the operating life of the pipeline. At a time of record state budget deficits due to high unemployment and decreased revenues, the Keystone XL pipeline would create a welcome source of tax revenue.

One of the significant threats to our economic recovery and our nation's security is the cost of energy and our dependence on oil from unstable regions of the world. Soaring energy prices dramatically increase the cost of doing business for companies like John Deere and the customers who use our equipment. The development of Keystone XL will provide a stable, long-term supply of oil from Canada, one of our strongest and most loyal allies, to refineries in the United States. The Pipeline will provide more than 700,000 barrels of oil per day to U.S. markets, reducing our need to import oil from overseas.

In closing, the Keystone XL Pipeline Project presents a unique opportunity to support U.S. job growth, increase tax revenues, and provide an additional long-term, stable energy supply. John Deere supports the development of Keystone XL Pipeline and we urge the Department of State to approve the Project and grant the Presidential Permit necessary for its construction.

Sincerely,

Domenic Ruccolo
Senior Vice-President
Worldwide, Sales & Marketing