Wednesday, March 21, 2012

Obama to Expedite the Keystone XL Pipeline

After cancelling the project in January, President Obama now appears to be ready to expedite the permit process for the southern half of TransCanada’s controversial Keystone XL pipeline.

Obama has shifted his position as a reaction to soaring gas prices which could prove to be a problem for his reelection bid in 2012. The US average price for a gallon of gasoline keeps rising and is as much as $4 a gallon in some states. Environmental groups have countered that the Keystone XL project may actually increase gas prices.

Republicans blame Obama’s energy policies for rising gas prices they also criticize the President for rejecting the Keystone XL in January.

Expediting the pipeline is part of the President's new "all of the above" energy policy. To appease Republicans and appear proactive on energy Obama has adopted a multi-tiered policy that involves advocating for the development of new sources of energy, domestic oil and gas production and rigorous new fuel efficiency standards.

© 2012, Richard Matthews. All rights reserved.

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