President Obama has three new reasons to approve the long-delayed Keystone XL pipeline. The pipeline would bring 830,000 barrels of Canadian crude oil per day from Alberta to U.S. refineries, which would lead to economic growth and job creation in the United States.

Escalating Conflict in Iraq. Though the fighting is yet to affect oil production in southern Iraq, uncertainty over how much havoc ISIS will create is driving up futures prices. Disruption in Iraq’s production would substantially affect its heavy crude oil exports, the type of oil found in Canadian tar sands. If unrest continues in the region, Canadian oil could help replace lost supply with reliable, stable production.