Obama administration expected to announce rejection of Keystone pipeline this afternoon – @washingtonpost
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I cannot decide if markets have priced this in or not.
On the one hand, the pipeline would have created jobs for U.S. citizens; very bullish for growth. Thus this story is negative; priced in.
On the other hand, this could push crude oil prices higher…um…somehow. Oil price increases in crude are direct indications of greater demand by the consumer – ALWAYS. Thus this story is positive, and not priced in.
This is not not priced in.
The pipeline will be approved when it is rerouted through Nebraska. In the meantime, ride your bicycle. Fo mo ears!
I’ve been trying to keep up with the Canadian media’s perspective on this, as there is currently a massive groundswell of support to try and stop the Enbridge pipeline out west. Canada has literally no solutions to this problem. If Keystone gets axed and Enbridge continues to get delayed (very likely), the oil is going to just sit there. Or, they’ll start trucking it out west, much to the delight of all the environmentalists trying to stop the pipeline.
The only solution I’ve seen is someone proposed piping it out east in order to load it on tankers and take it through the Panama Canal in order to get it to Asia…that sound’s like a viable long term solution…
Is there anything dumber than pandering gummint and environazis putting their heads together?
It’s absolutely unbelievable how in the bag for these nuts Obama is. I mean, say all you want about Bush being in the bag for the earl companies, but at least that industry employed voters!
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As a Canadian, the only thing I can think of that comes close is when you only have one buyer for one of your largest resources. And when that buyer is looking like they are going to step away from the table, the government actually comes up with a viable solution. Pipe it out west and sell it to Asia! But there is enough public outrage, devoid of any alternative solutions, that the project is potentially shut down for good. And all along the media plays the tune of “the big bad government stepping on the environment to line the oil companies pockets,” conveniently never mentioning how major of an issue this is that no one has a solution for.
there is actually a lot of comparisons in the Canadian media of the current government’s Bush like energy policies.