I'm usually as pro-Obama as they come, but I so don't get this. We need oil. Granted, it's a finite resource and not a permanent solution to our energy needs, but it would be very helpful for right now. And given how much of the price of oil is speculation, it would be most excellent to depress the price and screw Venezuela, Russia, Saudi Arabia, et al. I don't know what they Dems are thinking on this one.
Agreed. We need that oil, even if we were to somehow accelerate renewable energy projects. We would still need oil for many years to keep the economy running. Bad move by Obama.
The oil is coming regardless as long as its profitable to drill. It's just a matter of who gets a share of the profits behind it; us or Canada/China.
It's cheaper for Transcanada to pipeline this oil down to the Gulf than it is to pipeline it to any Canadian port.
