Big Oil Wants to Kill the Keystone XL Pipeline
by Chriss W. StreetWith America on the verge of achieving energy independence in the next five years by dramatically expanding domestic energy production, why should anyone be surprised that it’s Big Oil money that’s out to kill the Keystone XL Pipeline to prevent competition.
Most Americans were stunned when the U.S. State Department on January 18th denied the Keystone XL building permit to construct a 1,661 mile pipeline through Montana, South Dakota, Nebraska, Kansas, Oklahoma and Texas in an election year. The media blamed the rejection on opposition from environmental activists, such as Robert Redford, who commented: “Canada wanted to send the dirtiest oil on the planet through the heart of America so that they could access export routes.” But polls demonstrated the promise of 6,000 unionized construction jobs and lower energy costs fostered 67% support to build the pipeline and only 25% against.
For the last three years, the mantra of the Obama Administration, the United Nations and the Agenda 21 “sustainability” crowd had been the coming of “Peak Oil”, the point in time when the maximum rate of global petroleum extraction would be reached, then the rate of production would terminally decline and the prices would rise exponentially. This justified more money worldwide for the first time being invested in alternatives versus traditional energy sources to generate electricity. Projects for wind, sun, water and biomass captured $187 billion, while only $157 billion went into coal, oil and gas. Unfortunately for “sustainable” investors, this was before the realization that “fracking” and other new technology was drastically increasing U.S domestic energy production, causing the price of gas to be cut in half. Based on the U.S. Energy Information Administration data,; wind now costs 50% more, photovoltaic 300% more and solar almost 500% more in comparison to burning natural gas to generate electricity.







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