[thackney]

video at link

[RC one]

It is about the oil but it’s not ALL about the oil. OPEC needs to be kept closer, not pushed away IMO.

[Former Proud Canadian]

Energy prices in the US could be much lower today. To wit:

1. Announce the green light for Keystone.

2. Open up offshore drilling on all 3 oceans.

3. End "boutique blend" gasoline grades.

4. Start drilling on federal lands.

If I can think of this, don't you think somebody in the Energy Department knows this? Doesn't Obama know this? If he knows it, why doesn't he implement it?

[jmaroneps37]

Tee Bone is the Dick Morris of the energy business so although I’d like to believe this...
Oh BTW Tee Bone how’s those windmill thingies workin’ out?

[1010RD]

The benefits are obvious, patently obvious and will benefit the entire economy. Why block it?

[Captain7seas]

Mexico also is reported to be sitting on reserves rivaling Saudi. However, they are about 25 years behind in where they should be in production due to mis-management by PEMEX.

If we produced anywhere near our capability it would put the mideast back in the stoneage where they belong.

[Pearls Before Swine]

Jeez, Boone, shut up. If Obama hears you, the pipeline will NEVER get approved. Environment is one thing, but acceding to the Saudi King, protector of Islam, is quite another.

[SueRae]

But the Saudi’s have 0bama (and likely previous admins.) by the shorts. They freak out over the Keystone pipeline.

DRILL BABY DRILL!!!!

What’s really at stake? A questionable “ally”? Use of Saudi air bases, etc.?

[Praxeologue]

The price of oil is based on worldwide supply and demand. Increased U.S. production will not move the price of oil, decrease OPEC revenues, or affect the funding for Islamic militants. Future Asian demand and Russian supply are the big factors. Expanded North American reserves would have a military value in the event of a world war that denies the U.S. access to oil beyond its shores, but the odds on that are remote. Canadian oil sands would replace Venezuelan heavy crude at Gulf Coast refineries that can handle it, but that's about it. The only utility of that is to provide Venezuela with further incentive to come to its political senses, but I don't see how that's our problem.

The U.S. should develop its own resources. That brings all the value added of exploration and production back to the U.S., at whatever cost per barrel, up to $100. In economist terminology, it helps the balance of payments, but in simple terms it means jobs and prosperity for the U.S.: something that should have been done long ago.

Because of oil's energy density and ease of use, it will be the primary energy source for transportation, worldwide, for decades to come. Let's not get sidetracked by the renewable craze.

As for Canada, they can ship their oil here by rail or build/reverse a pipeline to their underutilized eastern refineries. Losing Keystone won't hurt them much, or us at all.

[pgkdan]

The proposed Keystone XL oil pipeline from Canada to the U.S. would make "OPEC obsolete," billionaire energy entrepreneur T. Boone Pickens told CNBC on Wednesday.

And that is why the Saudis have ordered bathhouse barry to refuse to allow it's construction.