Well, it seems that my blog has reached President Obama, specifically the article about why the pipeline should go ahead. Seriously, it was announced today that the president has put environmental and other studies on the pipeline on the “fast track” to see whether this project can go ahead.
Of course, we know that this is Politics – the Republicans have castigated Obama for his original decision to delay the studies until after the 2o12 election, tieing this to the rapidly escalating price of gasoline right now. All parties know that approval of the pipeline will have zero effect on gasoline prices, but the public, and particularly the group opposing Obama’s reelection is not interested in details like that. So, the countermove announced today.
We can now also expect that the President will release some oil from the Petroleum Reserve to increase supply, which may have some effect on crude oil pricing and therefore gasoline price. This has been done by other presidents, both Republican and Democrat as I recall.
But Politics aside, the pipeline should be built. In the simplest term, we would replace an equivalent amount of oil purchased currently from OPEC countries with oil produced in Canada. Does anything make more sense than that?