Category Archives: oil
Keystone Killed
After seven years of dithering, President Obama killed the Keystone pipeline on Friday. He said the project wouldn’t make a meaningful long term contribution to the economy.
Matt Lewis in The Week explains the real reason the president took so long. Labor unions were for the pipeline and environmentalists were against it. Labor isn’t happy:
We are dismayed and disgusted that the president has once again thrown the members of [The Laborers’ International Union of North America], and other hard-working, blue-collar workers under the bus of his vaunted ‘legacy,’ while doing little or nothing to make a real difference in global climate change. His actions are shameful. [LIUNA, via The Hill]
New Canadian Prime Minister Justin Trudeau took the slap in the face more gracefully.
Warren Buffett took the news gracefully too. Oil not shipped by pipeline will have to he shipped by train. He owns the trains.
Canadian Dynasty
Stephen Harper led Canada safely though the 2008-2009 financial crisis. He cut taxes, the Canadian dollar reached parity with the U.S. dollar, and the economy boomed with high commodity prices.
Now the price of oil is in the tank and there’s no Keystone pipeline to ship it anyway. On Monday Canadian voters decided they’ve had enough of Harper after nine years as prime minister. They dumped him for Justin Trudeau.
The charmed Trudeau was toasted by Richard Nixon as a future PM at the age of four months. He’s also the son of Pierre Elliot Trudeau, two time Canadian prime minister from 1968-1979 and 1980-1984.
The ruling dynasty lives.
Denali
William McKinley was the 25th president of the United States. He’s from Ohio. The highest hill in Ohio is 1,500 feet. The Highest mountain in the U.S. is 20,000 feet. Never mind that it’s in Alaska, it’s named after McKinley.
Denali
At least it was until now. President Obama changed the name to “Denali”. That was kind of redundant since the people in Alaska have been calling it Denali for past 100 years.
Still, it didn’t sit well with Ohio politicians. Rep. Bob Gibbs, R-Ohio called it an insulting “political stunt”. The congressman complained that presidents can’t just go around renaming mountains.
After a enjoying few beers the president changed the name of “Mauna Kea” in Hawaii to “Mount Obama”. He also changed “global warming” to “climate change“.
Keystone and internet.
President Obama says he has a pen and a phone and doesn’t need Congress. Last week he used the pen to veto the Keystone pipeline and the phone to lobby the FCC to regulate the internet.
Gas War
The world wide gas war is leading to the biggest decline in inflation in 6 years according to WSJ.
Business Insider says Tesla is Tanking.
