JACKSBORO, Texas, August 2, 2012 — The Obama Administration dropped the ball concerning the Keystone XL Pipeline, deciding that it wouldn’t be a good idea to put thousands of men and women to work, at the same time insuring that oil from Canada is delivered to American refineries rather than to refineries in China. So why are they crying in their beer over Canada’s decision make a $15.1billion deal with China?
Charles Schumer, the Senate’s number-three Democrat, recently drafted a letter suggesting that the Committee on Foreign Investments in the United States (CFIUS) should not approve the deal (it involves sale of the Canadian firm Nexen, which has American holdings, making the deal subject to American interference) until china makes “tangible, and enforceable commitments” on market access for US companies.
China’s state run oil company, CNOOC, asked for a voluntary review by CFIUS on July 23, but the starting date for this review in undetermined. Now it’s a wait-and-see as to what, if anything, will come of this review.
Senator Schumer went on to say that Treasury secretary Timothy Geithner should not miss the opportunity to ensure China lives up to promises it has made to provide fair access for US companies into the Chinese market.
The Democratic leader in the House of Representatives, Nancy Pelosi, in her usual abundance of wisdom also agreed that the committee must thoroughly review the CNOOC. That should set our minds at ease, letting us rest assured that she will hold China accountable for playing fair with American companies. American business leaders will undoubtedly sleep better, too.
CNOOC declined to comment on just how the Chinese would deal with demands for market access, but their usual approach is delay, delay, delay.
The Administration’s decision to forego those oil jobs will come as good news those who are un-willing to work, and would much rather receive a government check by doing absolutely nothing. We can set our minds at ease concerning the environmental issues, and we can continue our green energy crusade. We won’t have to smell that nasty old oil (which to some of us smells like money).
This champion of the green jobs crusade, Barack Obama, has cost American workers thousands of jobs, right here in the good ole USA, dropping the ball right on the goal line when he declined to approve the Keystone pipeline. Now it looks as if the ball has been handed to the Chinese
But really, who can blame Canada? It’s their oil, and they want to sell it. It’s that simple!
I’m sure that there have been some good ideas to come out of this green energy craze, and in the future some will prove themselves useful, but we are not there yet. Our wheels of commerce are still greased by oil. The way things look now, we at some time in the future may be buying our oil from China. Is that really in the best interest of America?
Mitt Romney has promised that when he is elected, he will implement a sound energy policy. Obama has shown that if he is elected to another term, he has no intentions of doing anything but to continue pouring money which we don’t have into the dry hole of renewable energy.
We should not start a trade war with China over Canadian oil, but we shouldn’t just roll over and play dead, either. Let this Administration understand in no uncertain terms that we can fire them, come November..
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