Obama administration to deny Keystone XL oil pipeline permit - page 5

by herring_RN Guide

obama administration to deny keystone xl oil pipeline permit …today’s decision, expected from the state department, would make official what the administration has said from the outset: that under current law, it cannot... Read More


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    The price of a gallon of gasoline went up TEN CENTS between breakfast and suppertime today. It's expected to go up at least another ten cents by Saturday morning. I have to commute 25 miles both to and from work, and I can't afford to buy a newer, more fuel-efficient car. So I am not the least bit interested in hearing what NPR has to say about the issue, let alone watching some left-wing pundit wax eloquent about all the renewable energy sources which are decades away from being a reality. Not to mention affordable.
    Last edit by VivaLasViejas on Feb 24, '12
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    Calls me conspiracy theory mongering, and that's not what I'm doing, just thinking out loud.

    But it is interesting that at a time when Obama's ratings are going up because of the good economic news, that gas prices go up from an industry that's angry at him over Keystone and then republicans jump on the bandwagon blaming him for high prices.

    And there's nothing like some good grass roots anger like the post above to fuel it.

    I'm angry too. I had to take money from food and fun to pay for gas this month and keep expenses equal to income. That's money that could help stimulate the economy and create jobs because there are hundreds of millions of us having to do the same thing. It hurts.

    So the economy which is on an upswing stagnates...Obama's ratings stagnate...hmmmmm.
    Not_A_Hat_Person and herring_RN like this.
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    Quote from Tweety
    Calls me conspiracy theory mongering, and that's not what I'm doing, just thinking out loud.

    But it is interesting that at a time when Obama's ratings are going up because of the good economic news, that gas prices go up from an industry that's angry at him over Keystone and then republicans jump on the bandwagon blaming him for high prices.

    And there's nothing like some good grass roots anger like the post above to fuel it.

    I'm angry too. I had to take money from food and fun to pay for gas this month and keep expenses equal to income. That's money that could help stimulate the economy and create jobs because there are hundreds of millions of us having to do the same thing. It hurts.

    So the economy which is on an upswing stagnates...Obama's ratings stagnate...hmmmmm.
    I agree with the bolded statement. I'm suspicious, too. I read a piece just today that quotes an oil industry person threatening Obama with trouble at the polls if he didn't approve Keystone. I'll post the link if I can find it again.

    I posted this in another thread, but since we're talking gas prices, it seems germane here.

    An analysis by Kevin Hall:

    Once again, speculators behind sharply rising oil and gasoline prices | McClatchy
    "Speculation is now part of the DNA of oil prices. You cannot separate the two anymore. There is no demarcation," said Fadel Gheit, a 30-year veteran of energy markets and an analyst at Oppenheimer & Co. "I still remain convinced oil prices are inflated."

    ... oil's price shot up because it trades in financial markets, where Wall Street firms and other big financial players dominate the trading of oil, even though they have no intention of ever taking possession of the oil whose contracts they are trading.

    ... Since oil prices are the biggest component in the price of gasoline, pump prices are soaring. AAA said Tuesday that the nationwide average price for a gallon of gasoline stood at $3.57, compared with $3.38 a month ago and $3.17 a year ago. It takes about $6 more to fill up the tank than it did this time last year — and last year's gasoline-price surge helped take the steam out of the economic recovery.

    ... What should the price of oil be if left to conventional supply and demand market fundamentals? Canada's the largest supplier of imported oil to the United States, which now actually produces more than half of the oil it consumes. Production and delivery costs for a barrel of oil from Canada are about $75 a barrel. The market-fundamentals cost for a barrel of oil is in that ballpark; above that, speculation sets the prices.

    ... Historically, financial speculators accounted for about 30 percent of oil trading in commodity markets, while producers and end users made up about 70 percent. Today it's almost the reverse.
    A ThinkProgress piece notes a few facts regarding Obama and energy production:

    Blame Oil Speculators, Not Obama, For Rising Oil Prices | ThinkProgress

    But there’s little truth to claims that Obama has curbed U.S. oil production and driven up gas prices in the process. As NPR noted this morning, the number of drilling rigs in U.S. oil fields has quadrupled under Obama and domestic oil production hit an 8-year high in 2011. For the first time in 60 years, the U.S. is now a net fuel exporter.

    Oil demand was actually down 4.6 percent last week over last year, while the supply of gasoline has actually increased slightly since a year ago. So why are gas prices so high? As McClatchy’s Kevin Hall explains today, there is a systemic problem: speculation.
    Tweety likes this.
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    remarks by the president on energy - http://www.whitehouse.gov/photos-and...ami#transcript
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    I'm not sure about this site...it was linked from a liberal site, so I'll put a liberal press alert out there. There's a list of this organizations supporters, but am too lazy to look further into it. That said, it's also critical of the current administration's practices.


    So while the industry and its supporters ply their misinformation regarding the gas price reducing attributes of their pet project, it is worth noting that the real action that has been taken to ease the pain of inevitable oil price rises over the coming years is mostly being ignored.
    Rising gas prices, Keystone XL and the real solutions | The Price of Oil
    herring_RN likes this.
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    TransCanada — the company that wants to connect the tar sands in Alberta to the Gulf of Mexico — is preparing to build anyhow. In particular, on the portion of the pipeline that would link Nebraska to Texas, TransCanada has threatened to use disputed eminent domain powers to condemn privately held land, over the owners’ objections. And that’s creating unusual allies — Occupiers, Tea Partiers, environmentalists, individualists — united to stop TransCanada from threatening water supplies, ancient artifacts, and people’s basic property rights.
    The Keystone Fight Is Uniting Tea Partiers With Environmentalists | TPMDC
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    Should a for-profit company should be able to seize private land for profit?
    tewdles likes this.
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    Quote from herring_RN
    Should a for-profit company should be able to seize private land for profit?
    Great minds think alike. See what I posted just a few minutes ahead of you. LOL
    herring_RN likes this.
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    another, less liberal, article on the struggle in texas:

    texas becomes battlefield in keystone xl pipeline fight | mcclatchy

    as with the trans-texas corridor, the pipeline dispute seems certain to reopen a legislative debate over eminent domain powers, which governmental entities and so-called common carriers such as utilities and pipelines use to acquire land for public projects after compensating the owner.

    entities with eminent domain powers typically first seek to negotiate with a landowner. if they can't agree, the entity sues to take the land. the courts also appoint a three-member commission to set a price.

    howard, the transcanada spokesman, called eminent domain proceedings "an absolute last resort" for the company and said "we do everything we can" to reach a voluntary agreement instead of going to court. he also said the company uses the property as a right of way for the pipeline and does not take ownership.
    the company has obtained 99 percent of the easements needed to build the pipeline in texas, with only 19 tracts outstanding, he said.

    medina, who now heads we texans, a conservative advocacy group, says she has documented at least 89 lawsuits in which property owners were taken to court. she also said others have been forced to negotiate because they couldn't afford a legal battle.

    herring_rn wrote: "should a for-profit company should be able to seize private land for profit?"

    apparently, the supreme court thinks so:

    new london, connecticut | the institute for justice

    in 1998, pharmaceutical giant pfizer built a plant next to fort trumbull and the city determined that someone else could make better use of the land than the fort trumbull residents. the city handed over its power of eminent domain—the ability to take private property for public use—to the new london development corporation (nldc), a private body, to take the entire neighborhood for private development. as the fort trumbull neighbors found out, when private entities wield government’s awesome power of eminent domain and can justify taking property with the nebulous claim of “economic development,” all homeowners are in trouble.

    the fight over fort trumbull eventually reached the u.s. supreme court, where the court in 2005, in one of the most controversial rulings in its history, held that economic development was a “public use” under the fifth amendment to the u.s. constitution.

    ...meanwhile, in new london, the fort trumbull project has been a dismal failure. after spending close to 80 million in taxpayer money, there has been no new construction whatsoever and the neighborhood is now a barren field. in 2009, pfizer, the lynchpin of the disastrous economic development plan, announced that it was leaving new london for good, just as its tax breaks are set to expire.
    Not_A_Hat_Person and herring_RN like this.
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    rising gasoline
    prices
    have helped proponents of a controversial pipeline proposal press their case that the project would help ease supply bottlenecks and lower prices for consumers.they’re half right.
    the proposed pipeline would relieve a glut of crude oil backing up in the midwest and redirect those barrels to gulf of mexico ports. from there they could be shipped to world markets and repriced at higher global prices.
    but that likely would mean higher prices for drivers in the nation's midsection, who currently are enjoying an unusual discount stemming from a lack of pipeline capacity.


    bottom line - why the keystone pipeline would boost pump prices


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