Thursday, April 5, 2012

Keystone XL vs. Solyndra

Here's the sort of thing that happens when we let the Obama Administration make business decisions:
A speculative “green” energy project that in retrospect, once the rest of us saw the details, was obviously going to be a business disaster, and ended up costing the taxpayers over half a billion dollars, was approved after a “one-day review.” Yet the president demanded that Keystone, a project with certain and vast energy output, be delayed for many more months so that it could be “adequately reviewed,” despite the fact that it had already had years of review. And as a result our energy prices will now rise in the future, with no way of returning to the status quo. Just as the president told us he wanted them to when he ran four years ago.
And then there's this "smart diplomacy" from the Administration: Canada: After Keystone, We'd Rather Sell Oil to China
Solyndra is no longer the administration's biggest energy blunder. Canadian Prime Minister Stephen Harper appeared a think tank event held in Washington yesterday. During an interview Harper explained that President Obama's rejection of the Keystone pipeline had forced Canada to change course in ways that will permanently affect Canada's approach to its own energy market. 
Obama could have approved the pipeline, added 30,000 jobs to the economy, and insured the most secure oil source for our future. Instead, he chose to kill the pipeline and the jobs and, in the process, insured that America will pay more for the oil it does buy. It's hard to imagine a worse decision, especially since it was all so Obama could deny Republicans a win in the run-up to the next election.