Energy Was A Big Winner In Last Week's GOP Wave

Investors.com ^ | November 11, 2014 | Merrill Mathews

[jazusamo]

One clear winner on election night was energy. While the economy may have been voters' primary concern and the president's health care law second, energy issues played a key role, especially in those states that gave Republicans control of the Senate.

It's a message that those newly elected senators, all of whom stressed their support for expanding energy development, aren't likely to forget. And it's one that Senate Majority Leader-elect Mitch McConnell, who repeatedly stressed his support for the Kentucky coal industry in his campaign, will push to the forefront.

First should come the easy stuff. There is bipartisan support for approving the Keystone XL oil pipeline. President Obama has delayed this privately financed infrastructure project for several years, even though his own State Department determined that there would be no environmental damage. And Canada has been sending oil from Alberta to refineries in Illinois for four years through the first phases of the Keystone pipeline system.

All the Keystone XL does is run a second pipeline from Alberta through Montana, connecting to the existing Keystone pipeline in Nebraska, and picking up 100,000 barrels a day in Montana while it's at it.

Obama clearly does not want to approve the Keystone, or else he would have done it. But would he veto legislation approving it? Maybe, but there might be enough bipartisan support to override his veto. Many elected Democrats, seeing their colleagues booted out over failure to take a stand for energy, could be willing to buck the president on this issue.

The second easy step is to allow crude oil and natural gas exports. In the mid-1970s, when U.S. oil and gas production was declining and gas lines were forming, Congress passed legislation prohibiting most crude oil and natural gas exports...

[Cicero]

I haven’t noticed that Mitch McConnell did much about Keystone or energy during his last term in office.

Maybe this time it will be different?

[jazusamo]

I agree, and he better get with the program, getting the Keystone built is a no brainer.

[colorado tanker]

I didn't hear of a single candidate who supported killing Keystone.

Oh, except the Democrat candidate for Nebraska Governor. According to enviros Nebraskans oppose Keystone. Except they don't. This guy went down 58-39.

[2banana]

And coal...!

[jazusamo]

Yes! Shelley Capito is a breath of fresh air in WV.

[DoughtyOne]

I'll believe it when I see Congress fulfill our expectations.  Until then...


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[jazusamo]

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