The Elephant in the Room, Plus Desert Lizards & Golden Eagles
We got a big economic speech from the President today. His plan to boost the economy and create jobs, but there's a huge piece he didn't think was worth mentioning.
The Keystone Pipeline!
The proposal to connect the enormous oil reserves in Canada to refineries in our Gulf Coast. It would mean cheaper energy, less reliance on hostile oil regimes, and American jobs.
This is the kind of shovel-ready project we could actually use, but Obama has put off deciding whether to approve it until next year.
Today, we got more evidence that we can't afford to wait.
Canada has had enough of our indecision, and is pushing forward with plans to build their own pipelines, going West, so they can sell the oil to China.
The Canadian government announcing they're streamlining the permit process and speeding up scheduled hearings. And they're in a rush for a reason. The country has over 175 billion barrels in proven oil reserves - nearly as much as Saudi Arabia!
But since the oil doesn't have a reliable way out, Canadian oil regularly trades for $30 a barrel less than other crudes. And Chinese companies are already investing in Canadian oil sands - over $20 billion so far.
America said, "No thanks, not now" to all that oil, and the Chinese are more than happy to pick it up.
But there's another headline you need to hear today.
We've told you about the rare Golden Eagle.
It's threatened by so-called "clean" wind turbines with 70 eagles killed at just one wind farm every year. And the wind farms get away with it, scot-free.
What was the government doing instead? They were looking into shutting down oil producers to protect a lizard. Because you see, the Dunes Sagebrush Lizard lives in the Permian Basin, a piece of land stretching from Texas to New Mexico, a crucial area for oil and natural gas.
For over a decade, the Federal Wildlife Agency has been considering naming it an endangered species, which could shut down the over 70 active drilling rigs there overnight.
So here's the good news: No less than the Secretary of the Interior announcing this week the Wildlife Agency is standing down from this fight. That's progress. And here's what's so incredible about it.
Rather than rolling out the red tape in typical Fed fashion, the government and the energy producers came to an agreement creating a program to voluntarily protect the lizard's habitat.
How often does that happen?
I'm happy for the lizard, but I’m still waiting for the eagle, and I’m still waiting for the pipeline.
The clock is ticking Mr. President!