So President Obama's administration is delaying the decision on a Canadian oil pipeline that would move oil from the Canada's oil sands reserves to refineries in Texas. Why? What is the possible downside to this? I'm not buying the potential 'environmental impacts'.
This strikes of political posturing to me, with the decision likely pushed to 2013, after the presidential election in late 2012.
So while families struggle with $3.80 (locally) a gallon gas, our federal government sits on a partial solution to relieve some of this pain. (Consider that gas prices are partially driven by a speculation market on oil prices. If speculators believed more oil would be on the market, the barrel price would drop quickly, even before the actual movement of oil began.)
Oh, and consider this... By delaying this decision, the U.S. is offering up an opportunity for other potential buyers of this oil. Maybe Asia or Europe will offer to fund a pipeline to the East or West coast to move the oil off continent. I'm sure in the end, Canada is going to look out for their interests first...
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