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Keystone pipeline to be stopped by Obama Administration

|Includes: BP, CVE, OIL, PDCE, SU, TransCanada Corporation (TRP), XOIL, XOM

The Obama administration just announced they will block Trans Canada Corp's, Keystone pipeline from the Canadian Oil Sands into the United States.

As I have said before, if your neighbor keeps telling you to stay on your own side of the fence, that is exactly what you will do, even if it hurts your otherwise good neighbor.  Does the green movement really believe this will somehow stop the development of the Alberta Oil Sands, arguably the largest deposit of oil on the planet?  Not hardly.

Canada, and it's pro business, Conservative government of Prime Minister Stephen Harper, are bent on developing this massive resource further into the 21st century. Buyers, from China to Korea are lining up in Asia and salivating as Canada is now forced to proceed with the "northern gateway" pipeline to Kitimat British Columbia, on the west coast, where this precious resource will be sold to Asia, to the future detriment of the United States and its top trading partner, Canada.

Whinston Churchill once said that, "America always does the right thing, after it exausts all other avenues".  I wonder if that is true in the case of North American energy security.

Only time, and one election, will tell.




Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.