Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Has the Fed Let the Inflation Genie Out of the Bottle? - 10th Aug 20
The Strange Food Trend That’s Making Investors Rich - 10th Aug 20
Supply & Demand For Money – The End of Inflation? - 10th Aug 20
Revisiting Our Silver and Gold Predictions – Get Ready For Higher Prices - 10th Aug 20
Storm Clouds Are Gathering for a Major Stock and Commodity Markets Downturn - 10th Aug 20
A 90-Year-Old Stock Market Investment Insight That's Relevant in 2020 - 10th Aug 20
Debt and Dollar Collapse Leading to Potential Stock Market Melt-Up, - 10th Aug 20
Coronavirus: UK Parents Demand ALL Schools OPEN September, 7 Million Children Abandoned by Teachers - 9th Aug 20
Computer GPU Fans Not Spinning Quick FIX - Sticky Fans Solution - 9th Aug 20
Find the Best Speech Converter for You - 9th Aug 20
Silver Bull Market Update - 7th Aug 20
This Inflation-Adjusted Silver Chart Tells An Interesting Story - 7th Aug 20
The Great American Housing Boom Has Begun - 7th Aug 20
NATURAL GAS BEGINS UPSIDE BREAKOUT MOVE - 7th Aug 20
Know About Lotteries With The Best Odds Of Winning - 7th Aug 20
Could Gold Price Reach $7,000 by 2030? - 6th Aug 20
Bananas for All! Keep Dancing… FOMC - 6th Aug 20
How to Do Bets During This Time - 6th Aug 20
How to develop your stock trading strategy - 6th Aug 20
Stock Investors What to do if Trump Bans TikTok - 5th Aug 20
Gold Trifecta of Key Signals for Gold Mining Stocks - 5th Aug 20
ARE YOU LOVING YOUR SERVITUDE? - 5th Aug 20
Stock Market Uptrend Continues? - 4th Aug 20
The Dimensions of Covid-19: The Hong Kong Flu Redux - 4th Aug 20
High Yield Junk Bonds Are Hot Again -- Despite Warning Signs - 4th Aug 20
Gold Stocks Autumn Rally - 4th Aug 20
“Government Sachs” Is Worried About the Federal Reserve Note - 4th Aug 20
Gold Miners Still Pushing That Cart of Rocks Up Hill - 4th Aug 20
UK Government to Cancel Christmas - Crazy Covid Eid 2020! - 4th Aug 20
Covid-19 Exposes NHS Institutional Racism Against Black and Asian Staff and Patients - 4th Aug 20
How Sony Is Fueling the Computer Vision Boom - 3rd Aug 20
Computer Gaming System Rig Top Tips For 6 Years Future Proofing Build Spec - 3rd Aug 20
Cornwwall Bude Caravan Park Holidays 2020 - Look Inside Holiday Resort Caravan - 3rd Aug 20
UK Caravan Park Holidays 2020 Review - Hoseasons Cayton Bay North East England - 3rd Aug 20
Best Travel Bags for 2020 Summer Holidays , Back Sling packs, water proof, money belt and tactical - 3rd Aug 20
Precious Metals Warn Of Increased Volatility Ahead - 2nd Aug 20
The Key USDX Sign for Gold and Silver - 2nd Aug 20
Corona Crisis Will Have Lasting Impact on Gold Market - 2nd Aug 20
Gold & Silver: Two Pictures - 1st Aug 20
The Bullish Case for Stocks Isn't Over Yet - 1st Aug 20
Is Gold Price Action Warning Of Imminent Monetary Collapse - Part 2? - 1st Aug 20
Will America Accept the World's Worst Pandemic Response Government - 1st Aug 20
Stock Market Technical Patterns, Future Expectations and More – Part II - 1st Aug 20
Trump White House Accelerating Toward a US Dollar Crisis - 31st Jul 20
Why US Commercial Real Estate is Set to Get Slammed - 31st Jul 20
Gold Price Blows Through Upside Resistance - The Chase Is On - 31st Jul 20
Is Crude Oil Price Setting Up for a Waterfall Decline? - 31st Jul 20
Stock Market Technical Patterns, Future Expectations and More - 30th Jul 20
Why Big Money Is Already Pouring Into Edge Computing Tech Stocks - 30th Jul 20
Economic and Geopolitical Worries Fuel Gold’s Rally - 30th Jul 20
How to Finance an Investment Property - 30th Jul 20
I Hate Banks - Including Goldman Sachs - 29th Jul 20
NASDAQ Stock Market Double Top & Price Channels Suggest Pending Price Correction - 29th Jul 20
Silver Price Surge Leaves Naysayers in the Dust - 29th Jul 20
UK Supermarket Covid-19 Shop - Few Masks, Lack of Social Distancing (Tesco) - 29th Jul 20
Budgie Clipped Wings, How Long Before it Can Fly Again? - 29th Jul 20
How To Take Advantage Of Tesla's 400% Stock Surge - 29th Jul 20
Gold Makes Record High and Targets $6,000 in New Bull Cycle - 28th Jul 20
Gold Strong Signal For A Secular Bull Market - 28th Jul 20
Anatomy of a Gold and Silver Precious Metals Bull Market - 28th Jul 20
Shopify Is Seizing an $80 Billion Pot of Gold - 28th Jul 20
Stock Market Minor Correction Underway - 28th Jul 20
Why College Is Never Coming Back - 27th Jul 20
Stocks Disconnect from Economy, Gold Responds - 27th Jul 20
Silver Begins Big Upside Rally Attempt - 27th Jul 20
The Gold and Silver Markets Have Changed… What About You? - 27th Jul 20
Google, Apple And Amazon Are Leading A $30 Trillion Assault On Wall Street - 27th Jul 20
This Stock Market Indicator Reaches "Lowest Level in Nearly 20 Years" - 26th Jul 20
New Wave of Economic Stimulus Lifts Gold Price - 26th Jul 20
Stock Market Slow Grind Higher Above the Early June Stock Highs - 26th Jul 20
How High Will Silver Go? - 25th Jul 20
If You Own Gold, Look Out Below - 25th Jul 20
Crude Oil and Energy Sets Up Near Major Resistance – Breakdown Pending - 25th Jul 20
FREE Access to Premium Market Forecasts by Elliott Wave International - 25th Jul 20
The Promise of Silver as August Approaches: Accumulation and Conversation - 25th Jul 20
The Silver Bull Gateway is at Hand - 24th Jul 20
The Prospects of S&P 500 Above the Early June Highs - 24th Jul 20
How Silver Could Surpass Its All-Time High - 24th Jul 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

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