WARNING SIGNS
THURSDAY, JANUARY 19, 2012
Obama's Keystone Debacle
By Alan Caruba
Future historians may conclude that President Obama’s decision to reject a permit for the building of the XL Keystone pipeline was a key factor in his defeat for a second term in 2012.
One can only hope that, in the course of the campaign, Republicans will focus public attention on the deliberate “no energy” policies of the Obama administration that have thwarted the creation of jobs, the generation of electrical power for homes and businesses, as well as fueling our transportation needs.
The Obama administration policies also meant that billions in tax revenue have been lost. Tapping U.S. energy reserves of coal, natural gas, and oil would also be a major step toward greater national security, freeing the nation from dependence on foreign oil.
In a recent article posted on The Heritage Foundation’s website,Rob Bluey reported that “oil and natural gas production on federal lands is down by more than forty percent (40%) compared to ten years ago.”
“Under the Obama administration, 2010 had the lowest number of onshore leases issued since 1984. The Obama administration held only one offshore lease sale in 2011.”
Following the President’s announcement regarding Keystone, the president of the Institute for Energy Research, Thomas Pyle, said that “Tens of thousands of American jobs died today because of the president’s rejection of the Keystone EL pipeline permit. For more than two years, the administration has delayed, hoping to get past 2012 without having to reveal the president’s true anti-job, anti-energy agenda. Because of today’s announcement, Americans will continue to send $70 billion overseas every day to purchase foreign oil.”
The secret President Obama wants to keep from Americans is that the price of domestic oil is always cheaper than foreign oil. Oil industry expert, Seldon B. Graham, Jr. says that this price deferential is “never reported by the media. The media only reports Wall Street speculators’ guesses of oil prices six months in the future…the U.S. price is always lower than the OPEC price.”
In February 2011, a CNS News article reported that “A new study says drilling on Alaska’s Outer Continental Shelf could make Alaska the eighth largest oil resource province in the world—ahead of Nigeria, Libya, Russia and Norway.”
In announcing the decision on the Keystone pipeline, the President boasted that, under his administration, “domestic oil and natural gas production is up”, but Bluey pointed out that “The vast majority of America’s new oil and gas production is happening on private lands in states like North Dakota, Alaska, and Texas.” Private, not public lands. One result is that North Dakota’s unemployment rate is 3.4 percent, the lowest in the nation.
Who favored the president’s decision?
An environmental organization, Green for All, hailed the decision. Its CEO, Phaedra Ellis-Lamkins, said, “This project would have helped Big Oil and their allies get richer at the expense of American workers and permanently damaged our environment.” How does it help to kill 20,000 jobs and an estimated 100,000 related to the pipeline?
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