Best of the Week
Most Popular
1. US Housing Market House Prices Bull Market Trend Current State - Nadeem_Walayat
2.Gold and Silver End of Week Technical, CoT and Fundamental Status - Gary_Tanashian
3.Stock Market Dow Trend Forecast - April Update - Nadeem_Walayat
4.When Will the Stock Market’s Rally Stop? - Troy_Bombardia
5.Russia and China Intend to Drain the West of Its Gold - MoneyMetals
6.BAIDU (BIDU) - Top 10 Artificial Intelligence Stocks Investing To Profit from AI Mega-trend - Nadeem_Walayat
7.Stop Feeding the Chinese Empire - ‘Belt and Road’ Trojan Horse - Richard_Mills
8.Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - Nadeem_Walayat
9.US China Trade Impasse Threatens US Lithium, Rare Earth Imports - Richard_Mills
10.How to Invest in AI Stocks to Profit from the Machine Intelligence Mega-trend - Nadeem_Walayat
Last 7 days
Gold Price Trend Forcast to End September 2019 - Video - 25th June 19
Today’s Pets.com and NINJA Loan Economy - 25th June 19
Testing the Fed’s Narrative with the Fed’s Data: QT Edition - 25th June 19
What "Pro Traders" use to Find Profitable Trades - eBook - 25th June 19
GDX Gold Stocks ETF - 25th June 19
What Does Facebook’s LIBRA New Crytocurrency Really Offer? - 25th June 19
Why Bond Investors MUST Be Paying Attention to Puerto Rico - 25th June 19
The Next Great Depression in the Making - 25th June 19
The Bad News About Record-Low Unemployment - 24th June 19
Stock Market New High, but…! - 24th June 19
Formula for when the Great Stock Market Rally Ends - 24th June 19
How To Time Market Tops and Bottoms - 24th June 19
5 basic tips to help mitigate the vulnerability inherent in email communications - 24th June 19
Will Google AI Kill Us? Man vs Machine Intelligence - 24th June 19
Why are Central Banks Buying Gold and Dumping Dollars? - 23rd June 19
Financial Sector Paints A Clear Picture For Stock Market Trading Profits - 23rd June 19
What You Should Look While Choosing Online Casino - 23rd June 19
INTEL (INTC) Stock Investing to Profit From AI Machine Learning Boom - 22nd June 19
Here’s Why You Should Drive a Piece of Crap Car - 22nd June 19
How Do Stock Prices React to Fed Interest Rate Cuts? - 22nd June 19
Gold Bull Market Breaking Out! - 21st June 19
Post-FOMC Commentary: Delusions of Grandeur - 21st June 19
Gold Scores Gains as Draghi and Powel Grow Concerned - 21st June 19
Potential Upside Targets for Gold Stocks - 21st June 19
Gold Price Trend Forcast to End September 2019 - 21st June 19
The Gold (and Silver) Volcano Is Ready to Erupt - 21st June 19
Fed Leaves Rates Unchanged – Gold & Stocks Rally/Dollar Falls - 21st June 19
Silver Medium-Term Trend Analysis - 20th June 19
Gold Mining Stocks Waiting on This Chart - 20th June 19
A Key Gold Bull Market Signal - 20th June 19
Money Saving Kids Gardening Growing Giant Sunflowers Summer Fun - 20th June 19
Investing in APPLE (AAPL) to Profit From AI Machine Learning Stocks - 20th June 19
Small Cap Stocks May Lead A Market Rally - 20th June 19 -
Interest Rates Square Minus Zero - 20th June 19
Advice for Financing a Luxury Vehicle - 20th June 19
Stock Market Final Blow Off Top Just Hit… Next Week Comes the FIREWORKS - 20th June 19
US Dollar Rallies Off Support But Is This A Top Or Bottom? - 19th June 19
Most Income Investors Are Picking Up Nickels in Front of a Steamroller - 19th June 19
Is the Stock Market’s Volatility About to Spike? - 19th June 19
Facebook's Libra Crypto currency vs Bitcoin: Five Key Differences - 19th June 19
Fed May Trigger Wild Swing In Stock Index and Precious Metals - 19th June 19
How Long Do Land Rover Discovery Sport Brake Pads Last? - 19th June 19
Gold Golden 'Moment of Truth' Is Upon Us: $1,400-Plus or Not? - 18th June 19
Exceptional Times for Gold Warrant Special Attention - 18th June 19
The Stock Market Has Gone Nowhere and Volume is Low. What’s Next - 18th June 19
Silver Long-Term Trend Analysis - 18th June 19
IBM - Watson Deep Learning - AI Stocks Investing - Video - 18th June 19
Investors are Confident, Bullish and Buying Stocks, but… - 18th June 19
Gold and Silver Reversals – Impossible Not to Notice - 18th June 19
S&P 500 Stuck at 2,900, Still No Clear Direction - 17th June 19
Is Boris set to be the next Conservation leader? - 17th June 19
Clock’s Ticking on Your Chance to Profit from the Yield Curve Inversion - 17th June 19
Stock Market Rally Faltering? - 17th June 19
Johnson Vs Gove Tory Leadership Contest Grudge Match Betfair Betting - 17th June 19
Nasdaq Stock Index Prediction System Is Telling Us A Very Different Story - 17th June 19
King Dollar Rides Higher Creating Pressures On Foreign Economies - 17th June 19
Land Rover Discovery Sport Tailgate Not Working Problems Fix (70) - 17th June 19
Stock Market Outlook: is the S&P today just like 2007 or 2016? - 17th June 19

Market Oracle FREE Newsletter

Gold Price Trend Forecast Summer 2019

Rejecting the Keystone Pipeline

Commodities / Crude Oil Nov 11, 2015 - 12:55 PM GMT

By: OilPrice_Com

Commodities

All thinking and rational students of economics and political policy should take note of the triumphed message sent out by the CREDO Action progressive group. The strategy to organize a massive civil disobedience confrontation has been absent from the public square for far too long. However, when the cause is so ill founded and based upon foolish economic realities, the protesting activists need to rethink their falsely placed suppositions.


“Yesterday, we made history when President Obama rejected Keystone XL. Not only did he reject it, he did so acknowledging that “we’re going to have to keep some fossil fuels in the ground.”

This is a monumental shift from President Obama and his “all of the above” energy strategy. And it is a monumental victory over an oil industry whose power to imperil all of us in the pursuit of greed has been unchecked for far too long.

President Obama signed the decision, but it was grassroots activism and organizing that made it happen. Historic, sustained, relentless, nationwide, diverse, fearless, deeply committed activism, of the kind we haven’t seen in a generation.

CREDO is especially proud of the Keystone XL Pledge of Resistance — launched at a key moment in March of 2013, when we were losing this fight. Nearly 100,000 of you committed to engage in civil disobedience if necessary to stop Keystone XL. With our friends at Rainforest Action Network and the Other 98%, we organized the biggest threat of mass civil disobedience in our generation. CREDO’s CEO met with President Obama and told him face-to-face about the Pledge of Resistance. Three months later, the President announced the climate test for Keystone XL at his Georgetown climate speech, and the tide began turning.

It is stunning to consider how far we have come. What we have accomplished together in the most urgent fight we face, against one of the most powerful forces in the world.”

Such a naïve assessment illustrates just how out of touch with reality the environmental cultist doctrine has progressed. Oil is an internationally priced commodity. The WSJ cites that “Since mid-2014, the price of a barrel of crude has fallen by nearly half. The U.S. is a big reason for the oil glut. North American producers have been heavy adopters of hydraulic fracturing, or fracking, technology that has allowed oil to be pumped out of shale formations.”

Bloomberg add that, “Environmental groups said that stopping Keystone XL would slow tar sands development,  while pro-Keystone forces argued that the bitumen will still be produced and shipped either by other pipelines or rail, increasing the risk of spills and other accidents. Since the beginning of 2012, rail shipments of Canadian crude to the U.S. have risen at least 11-fold, even though they have declined recently with the oil price slump. Meanwhile, operators doubled the capacity of the Seaway pipeline, allowing more oil-sands crude to reach Gulf refineries.”

Now is a good time to clear the air and get real. The demand for oil is down even with the dramatic drop in price because the world economy is sinking into a massive contraction, if not a full-blown collapse. It is a well known fact that Buffett’s Burlington Northern Among Pipeline Winners was transporting crude and provided an alternative to complete the building of Keystone.

The notion that fossil fuel, especially petroleum based energy will suffer because of Obama’s decision to reject the XL Pipeline project is pure poppycock. Adolescent “green” aspirations of relegating the oil giants to transition into renewable technology businesses is a pipe dream. The simple reason is that global energy requirements and future needs can never be satisfied by all the failed experiments in wind, solar and geothermal.

The CREDO crowd wants to believe. How Obama’s Keystone XL rejection adds momentum to the Paris climate talks and that “the President had already made a groundbreaking climate deal with Chinese premier Xi Jinping. Coming roughly a year ago, it neutralized what might otherwise have been the biggest issue in global climate talks — that is, what China will do.”

Folks, the only reduction you will see in China’s energy usage come from the economic tumble that is a significant shock to the world’s commercial activity.

The Brits over at the Guardian writes, Keystone XL pipeline rejection signals US taking lead on climate change fight, “Climate change has become such an overwhelmingly mainstream political and diplomatic imperative that it overrides traditionally unbeatable domestic interests.” Such a disconnect viewpoint from the leftist news press seems to be exactly the kind of reporting the CREDO clan reads and accepts.

Sorry, the real reason why the globalists are allowing the imposition of a technocratic radical environmental model is to hasten the destruction of national economies. Get ready for another massive round of taxes and regulation decrees on the masses, while the supra elites are exempt from the suffering caused by mandated international dictates. The planet will be worse off with this approach.

Forlorn, Corporatocracy rules the world. Yet, even the Jacobins of the collective admits the global warming hysteria is a side show to the real power.

“As Obama was rejecting Keystone XL, his administration was releasing the text (on a corporate website) of the Trans-Pacific Partnership, the next round of secretly constructed agreements designed to give multinational corporations immunity from the restrictiveness of societal goals such as a habitable planet.

It is critical that climate activists recognize that the Paris talks are necessary but not sufficient. We must demand that all international negotiations recognize the supremacy of the climate crisis and work to claw back power from the multinationals. Without any customers, even the most efficient global corporate entity will have trouble delivering shareholder return.”

The correct and proper alliance is to find common ground to “claw back power from the multinationals”, but to base such an effort on an intellectual falsehood such as “supremacy of the climate crisis” is literal insanity. Such a diversion from factual evidence, verifiable and objective empirical research plays directly into the hand of the predatory oligarchs. The pipeline that needs to be built is the one that carries the wisdom to understand the underlying economics and political agenda of the globalist elites.

Source: http://www.batr.org/corporatocracy/111115.html

Discuss or comment about this essay on the BATR Forum

http://www.batr.org

"Many seek to become a Syndicated Columnist, while the few strive to be a Vindicated Publisher"

© 2015 Copyright BATR - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors

BATR Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules