Bloomberg editors: We expect Obama to approve Keystone any day now
posted at 4:47 pm on November 14, 2012 by Ed Morrissey
Aren’t they cute? The editors at Bloomberg believe that with the election over and Barack Obama’s stated objections to the Keystone XL pipeline resolved, we should see approval coming forthwith:
When Obama denied a permit for Keystone XL in January, it was because the builder,TransCanada Corp. (TRP), needed to revise the route to avoid Nebraska’s Sandhills region overlying the Ogallala Aquifer. Rather than wait for this essential revision, Republicans in Congress forced the president to make a quick decision on TransCanada’s entire application, in the hope his rejecting it would hurt him in the election.
Since then, the company has rerouted and, in May, submitted a new application with the U.S. State Department. (The State Department is involved because the pipeline would cross the U.S.-Canada border.) Environmental studies have been updated accordingly, on what was already one of the most-researched infrastructure projects in U.S. history. And now Obama has won re-election, removing any need to pretend the pipeline’s surpassing value to U.S. energy security is undermined by its environmental risks. …
The bitumen is coming out of the ground one way or another. Obama should ensure it goes to the U.S. and not the Far East. The administration has long said it would make a decision by the first quarter of 2013. We see no reason it shouldn’t do so before the end of the year.
Well, neither do I — except for Obama’s hostility toward oil and other hydrocarbon-based forms of energy. If Obama was going to approve the pipeline, he’d have done so before the election, when it could have won him some blue-collar votes in the Midwest and the Rust Belt. Now, though, Obama will talk about an all-of-the-above energy policy, but he won’t go out of his way to reduce roadblocks to oil and coal production.
I hope I’m wrong, and I’ll cheer if I am … but I’m not holding my breath in case I need to do so.