Keystone Pipeline

[Rossignol]

On the 18th of this month, Obama flatly said no to the pipeline proposed to run from Canada, into Nebraska, 1700 miles through six states, and to the Texas Gulf Coast.

House republicans attached a provision to the recently extended payroll taxt cuts that would allow the pipeline to move forward unless Obama rejected it. Which he did saying the arbitrary deadline set by republicans for a decision was not enough time to thoroughly review the proposal. The deadline is still a month away and the proposal has been around for sometime.

While the Calgary based TransCanada which owns the pipeline says it could create as many as 20,000 jobs over some time during construction and beyond (including the support jobs created in other fields) the initial impact is estimated by some to be more like 6000 jobs. (another source says its much closer to 118,000 jobs not including spin off and support jobs... who knows for sure)

Obama however, feels that more jobs will be created through the payroll tax cuts and by extending unemployment benefits.

TransCanada will sell their oil. If not to us, than they have suggested they will run a pipeline to Canadas west coast to the pacific where the oil will be sold to China and other asian markets. Also, a result of the rejection seems to have already impacted international relations with our long time ally on our northern border.

Additionally, Obama has enjoyed huge support from both enviromentalists (which has the word "mental" in it) and unions. This decision Wednesday has damged his relationship with one of those as many of the new jobs would go to unions initially.

I dont make the stuff up, I just bring it to you in my own words and reserve my editorial for later.

Sources:
Colorado's Channnel 9
Investors.com

Brad,
lowly whacked out right wing Christian Constitutional conservative watch dog

 

[SHOOTER13]

We got to VOTE him out of office before he does any more damage...

 

[John A.]

He and Biden both declared war on coal as they were running for office and since then, there have been numerous mines shut down simply because they can't get permits approved by the EPA.

In KY alone, there are numerous lawsuits from varoius mining companies against the EPA for unfair and over restrictive practices by Governmental agencies (again, you see the word mental). Besides just legal actions, there a whole movements against Governmental over-reach

You can read more here if you want:
http://www.friendsofcoalky.org/

Same thing has been happening in the oil industry.

Plenty of oil here, but the government won't allow anyone to get it, even though during Bush's last term, there were some drilling and testing efforts. the results were a bit surprising and staggering.

More below, and you may be a bit surprised by what it says, although I don't know enough about how the Geology field works to be able to verify a lot of the claims, but read it for yourself.

http://www.rense.com/general70/doro.htm

James Bartis, lead researcher with the study says, "We've got more oil in this very compact area than the entire Middle East."

More than 2 TRILLION barrels. Untapped.

"That's more than all the proven oil reserves of crude oil in the world today," reports The Denver Post.

Utah Senator Orrin Hatch said:

"The amounts of oil are staggering. Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East?"

And the profit forecasts are ridiculous. According to the RAND Corporation (a public-policy think tank for the government), this small region can produce:

Three million barrels of oil per day That translates into more than $20 BILLION a year.

These are the conservative estimates. The U.S. Energy Dept. estimates an eventual output of 10 million barrels of oil per day.

I think it's part of their bigger plan to deplete the middle east's oil reserves although running us into the ground to do it in the meantime, so they'll eventually have to buy our oil for a change and then we'll be #1 producer.

Sorry, but I can't help but get mad.

 

[XRAIL]

I believe that the Keystone issue is more complicated than what our politicians would like us to believe. If the average US citizen doesn't take the itme to 'follow the money' or piece together the market driven and financial reasoning behind building energy infrastructure they will always fall for 'not enough oil' or 'refinery location/numbers aren't the problem' as we have sadly done for decades.

Skim through the following artices, one from November and one just recently, and ask yourself if you really understand (I don't) everything that you need to know about where our new abundance of oil is going to now let alone where you believe American or foreign companies should be FORCED to transport it to or refine it at tomorrow.

These are just two articles that I quickly Binged at random.
Storage (see current Chinese hoarding of copper as an example) and direction of flow through existing pipelines are rarely talked about as affecting prices...yet how much does the average American have to know about these issues alone to have an intelligent conversation with their legislator? (let alone an actual oil industry participant expected to invest heavily so that these problems go away while he makes a decent profit at the same time).

http://www.minyanville.com/businessmark ... 1/id/38023

http://www.reuters.com/article/2012/03/ ... RO20120301

 

[Rossignol]

Xrail, thanks for posting the links and I agree with the issues you mention.

Theres always a backstory.

 

[XRAIL]

Xrail, thanks for posting the links and I agree with the issues you mention.

Theres always a backstory.

Agreed...we have never taught our children 'follow the money' in either the public or private school systems that we've oversawn. Furthermore, I am afraid that if young people mistakenly believe that their current access to even the most basic of news sources (Wall Street Journal) is beyond their financial reach or 'time available' on a daily basis?...they will never know in which direction the current financial storm is brewing or know a thing about how to pick up the pieces afterwards due to our generation's refusal to give them fair warning as their first reading assignment.

The concept that we will pump foreign oil clear across the continent...refine it...then truck it clear BACK across the continent while demanding that none of that oil leave our shores thus solving the gas AND national security crisis is almost ludicrous in and of itself without American refinery policy not even being mentioned.
When's the last time we built a refinery...how much additional production do we need to drive prices down...and what type of refinery staffed by what kind of workers will be guaranteed what price for their product for how long to get these 'lightly regulated' factories built?.

 

[John A.]

[youtube]http://www.youtube.com/watch?v=3b1RMzygnk4[/youtube]

[youtube]http://www.youtube.com/watch?v=w9h16IQMQX0[/youtube]

http://www.wkyt.com/wymt/home/headlines/Congressman_hammers_EPA_officials_141111173.html
Congressman hammers EPA officials
Fifth District Congressman Hal Rogers hammered Environmental Protection Agency officials again Thursday on Capitol Hill.

Rogers and other Kentucky legislators have raised concerns about the EPA's role in the coal industry.

During the meeting in D.C., Rogers asked EPA Administrator Lisa Jackson to name one permit which has been accepted in recent months, but she said she did not have that information.

“I know you can't because there has not been any. And I've got people looking for work. Out of work. And I can't understand how you can sit there and not know details of this magnitude to a whole section of the country. It's not just Kentucky it's all of Appalachia. It's not Colorado, it's not Wyoming, it's not just western coal it's just Appalachian coal. What's wrong with us why can't we be treated like everybody else,” Rogers said.

Rogers comments come in the wake of an October ruling which affirmed that permits must be issued in a timely manner and without reasonable interference from the EPA.