The Keystone Pipeline made the National headlines last year when it became the focal point in the energy debate. It was a project that would construct a pipeline from Alberta to Texas to bring oil from Canada’s oil markets to U.S. refineries.
The company that was to build the pipeline began the application process over three years ago and it seemed that the project would get approval until the Obama Administration intervened to stop the decision until after this year’s presidential election. Had it been approved the pipeline would have brought 700,000 barrels of oil per day to our nation by late 2013, along with creating up to 6,000 jobs.
The pain at the pump is again being felt across our state as well as others in the southeast. Regular gas in our town is presently back up to $3.69 per gallon and is expected to continue to increase. Higher gas prices will cause increased costs in other areas as our businesses try to deal with the problem.
The price of gas is mostly based on the price of crude oil so when crude oil rises so do gas prices. Presently our nation imports half or more of the crude oil used here from other countries.
The United States has about 22 billion barrels of proven oil reserves, those in the know say, with estimates that there are eight times that number in undiscovered oil reserves. If a portion of that were made available crude oil prices would come down and prices at the pump would come down also.
Our country is energy rich with natural resources with which to power us. However, our president continues to listen to those in his party who want to end the use of our traditional forms of energy.
The Keystone Pipeline is only one of several ways we have to lower energy cost and create more jobs for Americans and the Senate Democrats and President Obama should start working for the citizens of this country and not against them.
A few months ago one of the Forbes brothers was a guest on a television news program. The host of the show asked Forbes how much oil the United States had in the ground. His answer was “More than all the Middle East region put together.” The U.S. Geological Service issued a report in April 2008 that only scientists and oil men knew that statement was coming.
The Stansberry Report on U.S. oil was given in April 2006 which revealed another source of oil reserves. Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world, the report stated. There is more than two trillion barrels. In August 2005 President George Bush mandated its extraction but during the past three and a half years of high oil prices this has not happened.
Experts say we have more oil inside our borders than all other proven reserves on earth. It is not being extracted because environmentalist and others have blocked efforts to help our nation become independent of foreign oil.
James Bartis lead researcher with the study says we have more oil in this area than the entire Middle East, more than two trillion barrels untapped. The Denver Post reported that was more than all the proven oil reserves of crude oil in the world.
Don’t expect OPEC to drop its price on crude oil even knowing about the above information because it is all about the competitive marketplace. OPEC could be funding the environmentalist as well as Obama’s campaign to be elected president again in November.
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