In a nutshell it's a double edged sword.
The United States has an opportunity to acquire much needed oil form a friendly nation rather relying on continuing imports from less reliable Countries such as Saudi Arabia and Venezuela.
The Keystone XL pipeline from Canada would be a step in the right direction, if President Obama approves it. While last summer in an election year, he deferred it or as the parlance goes:"He punted."
But the pipeline has since been rerouted and avoided the sensitive sand dunes and aquifer in Nebraska, that were such a concern of many environmentalists and Nebraskans.
The pipeline would give a boost to the American economy both directly and indirectly. The direct benefit would be in its construction and the indirect benefit would be in the steel used to make the pipeline.
Also because these would be good paying jobs, the workers would spend money in the various towns along the massive pipeline route in restaurants, stores and hotels.
Some argue that getting more oil even if it is from a friendly neighbor, will continue to contribute to more greenhouse gases. They have point.
But until alternative energy sources such as wind and solar become more economical, we're not there yet. And that doesn't mean you can't continue to explore and develop alternatives to fossil fuels:oil, coal and hydraulic fracturing of natural gas, to more environmentally friendly ones such as wind and solar.
While Solyndra is a well publicized government failure and poster child for those opposed to solar, it doesn't mean there aren't success stories in the U.S. for solar power.
Because solar and wind are relatively new industries in America, government incentives are necessary, until the cost comes down. The initial high cost is further exacerbated by the heavy subsidies in China of their government which is now the leader in developing solar energy.
Therefore the overall affect of climate change on American business is still being written and we have to adapt to a warming planet. It is what it is.