What if there was a “shovel-ready” project that:
**would create a significant number of American jobs
**would require no government money and no government guarantees of private debt
**would provide America with a secure new source of energy supplies and would reduce dependence on certain unfriendly regimes, such as the one in Venezuela
**would benefit an important and trusted American ally
And what would we think of an American administration that continually threw obstacles in front of this project?
It turns out that there is indeed such a project…
Opposition to the pipeline is, of course, largely based on environmental arguments, especially the point that oil from the Canadian oil sands and tars is “dirty” and its production is CO2-intensive. Opponents do not seem to be considering the points that (a) Canada will exploit its oil resources, and if this commodity doesn’t go to the US it will go somewhere else (most likely to China), and (b) transportation of oil by pipeline is far less susceptible to spills that transportation by tanker. The reality is that large segments of the environmental movement have become so unhinged that they will instinctively oppose any large-scale construction project, even if it involves the transportation of magical pixie dust.
Sadly, the U.S. Government is now being largely run by and on behalf of two classes of people:
–Theorists, whose heads are so deeply buried in books, models, and spreadsheets that they are unable to see the actual world and have lost all semblance of balance and judgment.
–Agitators, who “earn” their living and get their sense of satisfaction in life from stirring up all segments of society against one another, in a neo-Hobbesian war of all against all.
Today’s jobs report was not very encouraging, to put it mildly. Yet the “progressives,” inside the Administration and outside of it, continue to pursue their theories, their class warfare, and their general inculcation of broad-spectrum anger, clueless and/or uncaring about the damage their policies are inflicting on actual human beings.
Disclosure: I’m an investor in Canadian oil sands, and also in several pipeline companies, though not in TransCanada.