Thursday, March 22, 2012

The Truth About Obama, Oil and Gas Prices.

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Dependence on foreign oil is dropping under President Obama. The president said today in Oklahoma, "Since I took office, America's dependence on foreign oil has gone down every single year. America is now importing less than half the oil we use for the first time in more than a decade."

Yes, we still need oil and gas as a bridge fuel to a mostly alternative energy future, but in the meantime we need to build up those renewable energy options because oil and gas will only get more and more finite and thus expensive. I'll never understand why we still subsidize oil and gas -- an industry that makes records profits yearly. Especially since it's a product that is dwindling. Those subsidies should be going toward industries that can give us sustainable energy for decades to come.

As for the Keystone XL pipeline, there's absolutely no guarantee that the oil would be primarily sold to America:
At a congressional hearing in December, Markey [Rep. Ed Markey] asked the president of TransCanada if he would agree to allowing Keystone XL oil and its refined products to stay in the U.S. He said no. So Markey then proposed an amendment to that effect, and Republicans said no—that it couldn’t be done, because the market for oil is not just domestic; it’s global. What Canada wants to do, says Markey, “is create a connection between Alberta and Asia and use the United States as the place where the pipeline gets constructed. And so if that’s all we are is a middleman in this transaction, then the American people should know that.”
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