montanadave
11-10-11, 14:13
The Obama administration announced today they will delay a decision on approval of the proposed Keystone XL Pipeline, which would deliver Canadian oil sand crude oil from Alberta to the main U.S. crude terminal at Cushing, Oklahoma, while they study an alternative route.
Such a study will likely take over a year and conveniently push any decision until after the 2012 elections. Such a delay might also doom the project, as buyers for the Canadian crude will need to look for alternative sources due to the additional delay and Canadian producers will also need to look for alternative markets, most likely shipping their crude west to ports in British Columbia and then to Asian markets overseas.
Obama's decision is so transparently political it would be laughable if it didn't portend such disastrous long-term consequences for America's energy security. While giving lip service to concerns about American jobs and energy policy, Obama is pandering to his environmental base in a brazen and irresponsible act of political calculus and cowardice.
Read it and weep: http://business.financialpost.com/2011/11/10/u-s-expected-to-pursue-new-keystone-xl-route-source/
Such a study will likely take over a year and conveniently push any decision until after the 2012 elections. Such a delay might also doom the project, as buyers for the Canadian crude will need to look for alternative sources due to the additional delay and Canadian producers will also need to look for alternative markets, most likely shipping their crude west to ports in British Columbia and then to Asian markets overseas.
Obama's decision is so transparently political it would be laughable if it didn't portend such disastrous long-term consequences for America's energy security. While giving lip service to concerns about American jobs and energy policy, Obama is pandering to his environmental base in a brazen and irresponsible act of political calculus and cowardice.
Read it and weep: http://business.financialpost.com/2011/11/10/u-s-expected-to-pursue-new-keystone-xl-route-source/