Sorry to harp on politics today, but President Obama has now petulantly squashed the Keystone Pipeline project, which had broad support, would have created many jobs, and would have decreased our reliance on Mideast oil. Even his own base was divided on this one, with unions supporting it and environmental groups in opposition.
Detailed commentary here.
Is it November yet?
2 Comments
The claim that this decision was forced because of the lack of environmental information is clearly false and disingenuous.
Even though Energy Secretary Steven Chu has acknowledged that Canadian sand oils are safer to extract now than before he still did not support the project. The reason for this makes sense, Chu and myself think that building large infrastructure projects that allow for fossil fuels to be used far into the future lessens the incentive for the business community to invest in renewable energy.
Also the economic loss of this decision is minimal. The estimates for the amount of jobs that would be created by projects like these are almost always over stated. Moreover the effect on the price of oil is far in the future and likely minimal as the oil will still be on the market whether or not the pipeline is built.
Yet another decision that Obama has poorly handled and yet another example of politics influencing his communication of his decision. Overall very disappointing that he didn’t use this as an opportunity to communicate a clear energy policy.
I think, on the other hand, that having a reliable supply of oil in hand right now that doesn’t come from enemy states in the Mideast, and is provided in a way that spurs the domestic economy to any extent at all, is of far more present-day value than killing such a “shovel-ready” project in order for the government to focus on “incentivizing” renewable-energy castles in the sky. Transportation relies on oil, and will do for the foreseeable future.