Free Republic

When President Obama announced he was killing the Keystone XL pipeline, he said he was agreeing with the State Department’s assessment that the pipeline from Canada “would not serve the national interests of the United States.” The fact is that it would not have benefitted the personal financial interests of friend and economic mentor, Warren Buffett, who can rest assured that oil from Canada and the nearby Bakken formation in North Dakota will continue to be transported by a railroad he owns. As Investor’s Business Daily noted in a 2011 editorial: Killing the Keystone XL pipeline may help one of...

Energy: Three million gallons of Bakken crude burning in rural West Virginia after an oil train derails in a snowstorm ought to underscore the environmental safety of replacing rail cars with the Keystone XL pipeline. One of the reasons President Obama says he'll veto the Keystone pipeline bill that, as a result of last November's GOP electoral gusher, has found its way to his desk is that it will only carry Canadian crude to foreign markets and is not worth jeopardizing the environment. Two things are wrong with that argument. The first is that Keystone XL will also bring Bakken...

War On Energy: In yet another clean bill of health, the State Department's draft review says the pipeline from Canada will not affect global warming or harm aquifers it crosses. But it will create jobs and economic growth. The U.S. State Department's second Keystone XL supplemental environmental impact statement, which represents the project's fourth environmental review, finds the pipeline would not accelerate global greenhouse gas emissions or significantly harm the natural habitats along its route. This sent the administration's environmentalist base into spasms of hysteria. Greenies had warned that the extraction of crude from Alberta's oil sands would release dangerous...

Taxes: The president may try to satisfy both environmentalists and pro-growth blocs by tying the shovel-ready project curiously left out of the State of the Union to just-introduced carbon-tax legislation. Having failed to lower the sea levels in his first term, President Obama, in the first SOTU of his second term, highlighted the need for fighting climate change and proposed an Energy Security Trust Fund to siphon off money from those who actually produce abundant and useable energy to fund alternative energy sources which constitute a rounding error in the percent of energy produced by various sources. Two days later,...