Energy Independence? Bull*lone*y!

One of my post election predictions is that President Obama will approve the Keystone XL pipeline on or after November 5, 2104.

It just seems to fit with the current oil trends in the US:

U.S. Crude Oil Exports Hit a 15-Year Monthly High:

The United States exported 268,000 barrels of crude oil a day in April, the highest in 15 years, with almost all of it delivered to Canada, the Energy Information Administration said…

Narrow Shift by Washington on Oil Exports:

As the oil industry pushes the Obama administration to lift a longstanding ban on the export of crude oil, the Commerce Department has granted two Texas companies permits to export a light, processed form of oil, according to people familiar with the matter.

Over the last year, pressure has increased on the Obama administration to end the ban on crude oil exports, which has been in place since the 1970s Arab embargo magnified concerns about the oil supply. There has been a recent boom in domestic oil production thanks to breakthroughs in production techniques, like hydraulic fracturing, or fracking.

The Commerce Department, which can issue permits to companies to export crude oil, has not done so. There is no ban on exporting processed petroleum products like gasoline or jet fuel.

Energy Secretary Calls Oil Export Ban Dated:

Signaling a possible break with 40 years of energy policy, Energy Secretary Ernest Moniz has suggested that it may be time for the Obama administration to reconsider the nation’s ban on exporting domestically produced crude oil.

Congress made most oil exports without a license illegal in the 1970s to conserve supplies at a time when OPEC oil embargoes produced long lines at gas stations and threatened the American economy. But over the last five years a frenzy of oil drilling in shale rock formations in Texas and North Dakota have produced a glut of crude in the Midwest and Gulf of Mexico states.

U.S. Moves Toward Atlantic Oil Exploration, Stirring Debate Over Sea Life:

The Interior Department opened the door on Thursday to the first searches in decades for oil and gas off the Atlantic coast, recommending that undersea seismic surveys proceed, though with a host of safeguards to shield marine life from much of their impact.

The recommendation is likely to be adopted after a period of public comment and over objections by environmental activists who say it will be ruinous for the climate and sea life alike

White House Opens Door to Exploring Atlantic for Oil:

The Obama administration approved guidelines on Friday for seismic searches for oil and gas deposits in the Atlantic Ocean, handing the petroleum industry a significant victory in a bitter dispute with environmental groups over the searches’ impact on marine life.

The decision opens the way for companies to seek permits to look for oil in a stretch of the Atlantic from Delaware to Florida, using compressed-air guns that blast the ocean bottom with thousands of sound pulses as loud as a howitzer. The pulses bounce off geologic formations deep in the earth, giving geologists hints of where oil and gas deposits may lie.

The new rules do not permit actual drilling for oil, and the only previous exploration in the area produced 51 dry holes before ending in the 1980s. But experts have said that a decision to allow exploration sends a clear signal that allowing offshore drilling rigs would be approved as well.

If the Republicans want an impeachable offense…putting US energy security at risk for profit could just be the real thing…oh wait a minute…never mind!

2 comments to Energy Independence? Bull*lone*y!

  • Cat Kin

    Ed, the president’s MO has always been to give a carrot to get an action. I give the man credit for not giving up despite unprecedented criticiam from all sides and little acknowledgement for many positve accomplishments. From what I’ve seen, I will stick by the President every time.

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    • EmmaR

      My only question is why are we exporting oil? I’d like to see us take down our oil consumption and be self-sufficient in terms of the oil we do need.

      As far as the pipeline, I think it’s very difficult for Obama to have any legacy if he approves Keystone. His name will be associated with game-over on planet earth much like Chamberlain is associated with cowardly appeasement. And legacy matters to these guys. Obama’s is awfully shaky. It’s a tough read but I’m leaning towards him denying the pipeline – no amount of campaign funds from the oil industry will make Cruz or Paul president. And with the undeniable effects of climate change visible everywhere, it will be tough for Republicans to run on this issue.

         0 likes

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