President Obama has announced, after seven years of review that he will block the Keystone Pipeline, the controversial oil pipeline intended to bring oil from Canadian oil fields directly into the United States. Despite the potential economic boom, Obama has sided with environmentalists.
This pipeline would have created thousands of jobs, helped the recovery of economically depressed areas and given the United States a substantial boost toward the energy independence it desperately needs to deal more effectively with OPEC and the Middle East.
Obama said “The State Department has decided the Keystone XL pipeline would not serve the national interests of the United States. I agree with that decision.”
TransCanada President Russ Girling said, “Today, misplaced symbolism was chosen over merit and science — rhetoric won out over reason. … It is disappointing the administration appears to have said yes to more oil imports from Iran and Venezuela over oil from Canada, the United States’ strongest ally and trading partner, a country with rule of law and values consistent with the U.S. Today’s decision deals a damaging blow to jobs, the economy and the environment on both sides of the border.
Author’s note: This is not unexpected, but it is a devastating loss for the United States. Not only do we have the direct loss of the pipeline, and the jobs and economic benefit it would bring, but we have signaled OPEC that we will continue to allow a major portion of our economy to be affected by the whims of their decisions.
The State Departments prominence in this decision is, in our opinion, merely for show, a long-winded justification for a decision made long ago. The seven-year delay was very costly to the parties involved, probably also by design.
If a Republican is elected President, perhaps this decision will be reversed.