Heating oil soars on dangerously low supplies

A Courageous Decision

You have to admire the Obama Administration's courageous decision to delay the decision to make a decision on the Fate of the Keystone Pipeline. Oh wait a second. If make a decision that delays a decision is that really a decision at all? The Obama Administration has been playing Keystone Cops over the Keystone pipeline, the pipeline that has been waiting for approval since he took office. While the President comes up with phony jobs creating stimulus bills to rebuild our nation's infrastructure with tax money, here is a business that wants to create infrastructure and create jobs with its own money. That's 20,000 jobs on the low end of estimates and possibly many more. The reason for the delay is that Obama is worried that the pipeline is going over a Nebraska aquifer and that could endanger drinking water if there is a leak. It only took this administration 18 months to figure out that this might be a problem!

The Keystone XL could substantially lower crude prices by easing the bottleneck at Cushing, Oklahoma, create jobs and provide the country with cheap oil. If he gives the go ahead the environmentalist will sit out the election. If he says "no" the Unions will be angry. If he waits until after the election, then it may be someone else's problem. In the meantime the President is putting his election or his ideology above the interests of the unemployed in this country and the country at large.

Now he may try to tell you he is worried about the so called impact Canadian oil sands may have on the environment but the truth is that whether you believe that or not, those sands will be developed, pipeline or not. Reuters News reports that if you avoid the US or creating jobs in the US that, "TransCanada's rivals look set to step into the breach. And the competing pipelines will not require a presidential permit since they will not cross U.S. borders, which should reduce the political risk factor. For instance Enbridge ENB.TO has been able to quietly bundle an expansion of its U.S. network into the proposed Wrangler pipeline proposal. The expanded Enbridge line will almost certainly move sands crude oil and allow for greater flows of Canadian crude into the United States." In other words we will still burn the "Dirty Canadian oil sands oil" yet will not benefit one iota from the jobs it will create. Mr. President, it is time that you put the interest of the nation ahead of your reelection. Have some guts and make the correct decision.

You want to talk about real courage! Let's talk about our Veterans. Today take a moment to say a prayer and thank God for the men and women of this country that sacrificed so much so that I have the right to call out the President of The United Sates and not have to worry about retribution. It is called FREEDOM! God Bless Our Vets and God Bless America! I had the honor to shake the hands of some World War II Veterans that were being honored by the CME Group. It was indeed an honor! Thank you again for your service!

Phil Flynn is senior energy analyst for PFGBest Research and a Fox Business Network contributor. He can be reached at (800) 935-6487 or at pflynn@pfgbest.com.

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About the Author
Phil Flynn

Senior energy analyst at The PRICE Futures Group and a Fox Business Network contributor. He is one of the world's leading market analysts, providing individual investors, professional traders, and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline, and energy markets. His precise and timely forecasts have come to be in great demand by industry and media worldwide and his impressive career goes back almost three decades, gaining attention with his market calls and energetic personality as writer of The Energy Report. You can contact Phil by phone at (888) 264-5665 or by email at pflynn@pricegroup.com. Learn even more on our website at www.pricegroup.com.

 

Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The information presented by The PRICE Futures Group is from sources believed to be reliable and all information reported is subject to change without notice.


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