A oil spill from TransCanada's Keystone XL pipeline could have major economic consequences, claims a new report from Cornell University.

"Pipeline spills are not just an environmental concern," reads the study, written by Global Labour Institute director Sean Sweeney and associate research director Lara Skinner. "Pipeline spills can also result in significant economic and employment costs, although the systematic tracking of the social, health, and economic impacts of pipeline spills is not required by law."

While not providing any hard numbers, the authors point out that such major employment sources as farming, ranching and tourism "depend on a clean supply of water." And that Keystone XL, which would cross more than 1,700 bodies of water, may pose an unacceptable level of risk to midwest livelihoods.

The report advocates for an assessment of economic and social impacts related to TransCanada's proposal.

"Such an assessment is needed in order to thoroughly consider both the risk of spills and their economic consequences, including negative impacts on employment," it reads.

Though President Barack Obama rejected Keystone XL last January, TransCanada has since announced plans to build the southern portion, from Oklahoma to Texas. And it plans to submit a new route, one presumably avoiding sensitive ecological areas in Nebraska, within weeks.

A widely-read Tyee article last week revealed that Enbridge's 2010 bitumen spill into Michigan's Kalamazoo River has cost ten times more than most spills of conventional crude. More than a year and a half since that rupture, 30 miles of the river remain off-limits as recovery efforts continue.

“Given where the pipeline is scheduled to go, it’s not inconceivable that a spill like the Enbridge pipeline spill could occur,” Sweeney recently told the New York Times. “And if it contaminated a major waterway in a remote area, it could take a long time to deal with.”

Geoff Dembicki reports on energy and climate issues for The Tyee.