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The Biden administration is allegedly looking into what the market consequences will be if it shuts down a Michigan oil pipeline.
Politico reports that the administration is weighing what to do with Line 5, which is part of a network that moves petroleum products, including crude oil, from Western Canada to Escanaba, Mich. Approximately 540,000 barrels of these products are transported per day.
Biden’s move on Line 5 has been sharply criticized by Republicans in Congress. More than a dozen lawmakers from the region sent a letter to Biden, warning the president that this move can result in gas prices spiking even further. Propane prices have already risen 50 percent in Michigan from last year.
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