Good. I’m glad the Senate passed this in spite of a veto threat.
WASHINGTON (Reuters) – The U.S. Senate passed a bill on Thursday to approve the long-pending Keystone XL oil pipeline, despite the White House saying earlier in the day that President Barack Obama would veto the measure.
The Republican-led Senate passed the bill that would approve TransCanada Corp’s project to carry 800,000 barrels per day of heavy Canadian crude to Nebraska on the way to Gulf Coast refineries and ports.
And while the Reuters doesn’t say it, this passed with bipartisan support. It passed 62-36 with 9 Democrats voting in favor. It is not a veto-proof majority, but it is a strong one. Put it on Obama’s desk and make him veto it.
While I’m not necessarily convinced that this project will provide permanent jobs or make gas prices cheaper, its pretty clear this has bipartisan support and should move forward. The President needs to understand that if he wants Congress to compromise with him on other issues, he needs to realize he is the minority opinion on this one and let it go.
Americans have already seen the benefits of the shale drilling (resulting in more competition and lower prices from OPEB) without the Keystone, but building the pipeline would allow the oil to be competitive in a more global market (not just the regional US region where it is produced) which may help keep this competition for OPEC around. If OPEC floods the USA with cheap oil for 3-4 years, that might be enough to drive some of the newer US businesses in shale out of business
If we want oil to stay below $80, we need this pipeline.
Its safer and more environmentally friendly than shipping by truck or over Democrat, and Obama supporter, Warren Buffet’s hazardous rail lines.
Obama would be guilty of public office corruption, by giving direct government benefit to one of his largest campaign donors, if he vetoed the pipeline.
…but Obama probably does not care if he is corrupt.