Tuesday, January 06, 2015

Update (sorta) on Keystone

Jobs, Prosperity and Security via Oil Exports
"The midterm elections underscore how much Americans value energy, job and economic revival – and how much they want less Washington control of their lives, livelihoods, and dreams for their children and grandchildren. They also reflect the waning influence of radical Obama and Steyer climate change and anti-energy environmentalist elites. If ever there was a time to end the ban on oil exports, it’s now. With U.S. demand for oil products falling, production rising, and myriad studies making a strong case for selling American crude abroad, the president and Congress should terminate the ban as soon as possible. The nation’s demand for crude oil fell by 3.5% in September versus the same month a year ago. Gasoline demand fell by 3.0% because of efficiency gains in cars and trucks, coupled with a still weak economy, abominable 62.8% labor force participation rate, and too many people forced to work part-time, for lower wages and fewer benefits. Meanwhile, U.S. crude oil production soared in September, climbing to its highest level in 29 years – and demolishing claims that we are rapidly exhausting Earth’s petroleum. During September, the United States produced 8.8 million barrels of oil per day – an increase of nearly 14% over the previous year and 58% since 2005. In fact, the United States has now replaced Saudi Arabia as the world’s #1 oil producer."

Obama’s Keystone Confusion
"In his appearance last week on The Colbert Report, President Obama restated his approach to the Keystone XL pipeline decision, a mindset that can only be described as confused.

The president summarized his strange dilemma as follows: “[Keystone] could create a couple of thousand potential jobs in the initial construction of the pipeline, but we’ve got to measure that against whether or not it is going to contribute to an overall warming of the planet that could be disastrous.”

But this thinking hinges on three key — and false — assumptions.

First, that whatever carbon dioxide or pollution (note that I did not say “or other pollution” since CO2 is plant food, not pollution) would be generated in the building or operation of Keystone will not be generated in whatever other method ends up being used to transport oil from Canada through the United States.

Second, the usual climate alarmist assumptions, namely that humans are having a substantial impact on the climate and that a warming of the planet is likely to be harmful.

Third, and most important, the implicit assumption that climate change — even if you believe the alarmists’ claims — is the only risk worth considering."
[---]

Obama Administration Kicks the Oil-and-Gas Industry While it is Down
"For the past six years, the oil and gas industry has served as a savior to the Obama presidency by providing the near-lone bright spot in economic growth. Increased U.S. oil-and-gas production has created millions of well-paying jobs and given us a new energy security. The president often peppers his speeches with braggadocio talk about our abundant supplies and decreased dependence on foreign oil.

So now that the economic powerhouse faces hard times, how does the Administration show its appreciation for the oil-and-gas industry boon to the economy over the past six years?

By introducing a series of regulations—at least nine in total, according to the Wall Street journal (WSJ)—that will put the brakes on the US energy boom through higher operating costs and fewer incentives to drill on public lands."


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