In other words, hold onto your wallets, as Obama speaks to people whom which he wants to provide open wallets
(Bloomberg) With his administration under pressure from environmentalists to reject the Keystone XL pipeline project, President Barack Obama plans to unveil a package of separate actions next month focused on curbing U.S. greenhouse gas emissions.
At closed-door fundraisers held over the past few weeks, the president has been telling Democratic party donors that he will unveil new climate proposals in July, according to people who have attended the events or been briefed.
Remember the days when US Presidents would make pronouncements to the press, members of Congress, especially their own party members, and to the American People? Welcome to the Permanent Campaign.
Obama’s promise frequently comes in response to pleas from donors to reject TransCanada Corp. (TRP)’s proposed Keystone XL project, a $5.3 billion pipeline that would carry tar-sands oil from Canada to U.S. refineries. Opponents of the pipeline say it would increase greenhouse-gas emissions by encouraging use of the tar sands.
While Obama has not detailed the specifics of his plan to the donors, pipeline opponents anticipate the package will include a plan from the Environmental Protection Agency to issue final rules to limit greenhouse-gas emissions from new power plants. In April, the EPA delayed issuing the rule after the electric-power industry objected on legal and technical grounds. Since then, the agency has been rewriting the rule to address those concerns.
The White House plan may also include a standard for limits on existing power plants, something EPA officials have said they expect to propose in the next 18 months.
We will certainty have to wait for his rough outline, possibly written on a post-it note with no details. What we can expect are measures that raise the cost of energy, which will raise the price of everything else, raising the overall cost of living for all Americans, that will cause hardship for middle and lower class citizens.
And if you want to see how so much of this is pushed, meet Matthew S. Tejada, yet another environmental justice community organizer who was hired to be a bigshot at the EPA, after being one of the people who constantly sued the EPA.
What we will probably see, regarding Keystone XL, is Obama giving his hearty approval in public, but slapping so many restrictions and regulations to deal with hotcoldwetdry that it cannot be implemented correctly and in a cost effective manner.
All thye big investors have already bailed on this fiasco. Total SA Fraench oil giant took a 1.65 Billion bath on it
France’s Total SA (NYSE: TOT) will sell its 49% stake in its Canadian oil sands project to Suncor Energy Inc. for $500 million, netting the French oil giant a $1.65 billion loss on the beleaguered project.
Total would have had to spend another $5 billion (at least) on the Alberta oil sands Voyageur Upgrader project over the next five years—an investment that cannot be justifi
From CHRISTIAN SCIENCE MONITOR
ALSO EVERY OTHER INVESTOR IS ALSO BAILING
Marathon Oil Corp., Murphy Oil Corp. and Athabasca Oil Corp. had sought buyers and partners in the Northern Alberta oil sands, but now have changed their minds – or in Athabasca’s case, have told investors to hang tight after the company failed to clinch deals that had once appeared imminent.
Those companies join ConocoPhillips Co., Koch Industries Inc. and Royal Dutch Shell PLC in being disappointed after putting properties up for sale that may have once attracted bids totalling in the billions of dollars. Those three say they have rethought their plans after offers failed to meet expectations.
I’d be interested in this discussion if you had any clue as to the way business works in the real world, rather than your limited Soviet Union model.
I found the article john was citing.
What he doesn’t tell you is the reason the companies are leery of the Canadian oil sands.
The first thing is increased US production of oil – something Obama and people of john’s ilk don’t want. The field leases in Canada were bought when it was thought American oil would not be produced so they companies paid higher than normal prices. But when independent US fields came on line (as opposed to federal ones blocked by Obama) it lowered the costs of both the oil and the labor to get at it.
The second thing that was driving the prices higher was lawsuits from people of john’s ilk who want to stop cheap energy at any cost so they sue in order to artificially raise the cost of energy sources they don’t want, and demand subsidies of sources they do like.
What this all boils down mirrors Teach’s conclusion – john doesn’t have a clue as to how business works.
All he wants to do is stop American businesses and keep people from realizing the American dream through hard work.
John was trying to play a game, as liberals like to do, only giving part of the information to bolster his argument while using data that says the opposite.
Don’t forget, many of these leases are time-based. Postpone the Keystone XL pipeline… and additional pipeline to the one we have already, and the leases run out.
Don’t forget too the increase in the natural gas output in this nation.
And, with an anti-oil climate in the whitehouse, oil companies are very hesitant to invest nowadays.
and john, what do you care? Am sure you are happy that major oil companies are not able to do business under this administration. John, would you be ok if Bush attacked and prevented the business of Wind and Solar Energy companies??