Jobs, domestic energy independence, economic infusion, reduced gasoline prices; sounds good to me. Wonder what Obummer is thinking.
Excerpt: here are many contrasts that the GOP can use to go after Obama on the economy.
None present such a black and white contrast as the dispute about the black, tar-sands crude that Canada would like to ship through the US to refineries on the Gulf via the Keystone XL pipeline. The dispute isn’t about the environment, is about creating 10 million U.S. jobs.
The pipeline could ultimately supply about a million barrels of Canadian oil to the US per day and 400,000 US jobs, most of them almost immediately.
But instead, the president, who has been railing against Congress for not passing another expensive jobs bill, and talks about income equality like it’s the most pressing issue of the day, just killed 400,000 American jobs that would battle income inequality in the most productive sense by providing ordinary Americans with the opportunity to earn some income.
While it’s estimated that Canada may have as much as 2 trillion barrels of oil in reserves, “the U.S. Geological Survey estimates the [US] has 4.3 trillion barrels of in-place oil shale resources centered in Colorado, Utah and Wyoming, said Helen Hankins, Colorado director for the U.S. Bureau of Land Management” according to the Associated Press.
4.3 trillion barrels is 16 times the reserves of Saudi Arabia, or enough oil to supply the US for 600 years.
As I have pointed out all along, the Keystone issue isn’t about the safety of a pipeline. Obama and enviro-whacko friends know that if they allow Canadian tar sands oil to be developed via the Keystone pipeline, that the US will also start to develop their own tar-sands and shale oil. The US contains well over 600 years of known reserves and that would allow the US to be a net exporter of oil. If that happens, the green economy ruse that the left has sponsored, already reeling from bankruptcies and cronyism, would collapse. It would show that there is no shortage of oil and “green” energy can not compete with fossil fuels.
The only thing left then for those bitter climate clingers would be the shoddy science of Global Something-or-Another.
Oil from tar sands, reports the BBC on the Keystone decision, “is so plentiful that full-scale development would seriously delay the transition to low-carbon alternative fuels,” which is the holy grail of the left. And along the way, the U.S. would create at least 10 million new U.S. jobs, keeping around $500 billion per year here at home. Over twenty years that would be an additional $12.5 trillion in GDP even at a modest 2 percent growth rate. At 4 percent the numbers are closer to $15.5 trillion.
Full scale development of tar sands can only be stopped by taxing oil out of existence, like was tried with cap and trade. Cape and trade was never about trying to cool the earth. It was about giving “green” technologies a competitive advantage over fossil fuels that free markets won’t concede.
Building out the infrastructure to drill and transport that oil just from the Rocky Mountains in the US could supply literally millions of jobs for American workers, while supplying literally millions of barrels of oil per day, repairing our energy security for the next century. But moist importantly it would repair our economy.
I mean we went to war to protect the supply of oil coming from Libya for Europe.
Couldn’t the GOP at least first go to work making sure Keystone provides work for Americans?
That’s an issue to go to war over.
Read full Townhall article here.