Keystone Pipeline is Key to Future

Everything we will ever need to know about the Obama Administration may come down to a single decision. And that is whether Obama, along with newly sworn in Secretary of State John Kerry, approve the Keystone XL pipeline from the Alberta tar sands to the U.S. For, contained in that decision is not just the future energy independence of North America — the U.S. currently depends on foreign sources for 45 percent of our fuel— but perhaps the future prosperity of the American economy. If completed, the expanded pipeline — there actually is another Keystone pipeline from Alberta operated by TransCanada that already delivers about 590,000 barrels of oil a day — will add another 500,000 barrels a day to the mix.


The fact the Chinese are waiting in the wings to claim this energy for themselves would be reason enough to approve it. Beijing has offered to pay for building an alternative pipeline to the Pacific coast to have the oil shipped there. For now, global production keeps up with global demand, but developing economies like China and India — oil importers both — invariably are leading to higher demand. Which means every drop we fail to develop here, whether in the deep waters of the Gulf of Mexico, or fail to gain access to, as in Canada, is driving up prices at the pump.

The recent run-up in gasoline prices provides yet another warning to the Obama Administration of the types of price pressures the American people will be faced with in the future should we fail to become energy independent. Since Jan. alone, the price for a gallon of regular gasoline has jumped by $.44 to $3.69 on Feb. 18,reports the Energy Information Agency.

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