Ask people about the future of energy, and you’ll probably hear mention of “solar,” “wind,” and “ethanol.” These developing energy technologies have been invested in, loaned to, subsidized, and mandated—yet they’ve repeatedly fallen short.
If the vaunted renewables aren’t yet ready for prime time, what will we do if, for example, Iran makes good on its threat to close the Strait of Hormuz and blocks a significant supply of the world’s energy? Just the fear of a supply disruption bumped up the price of oil.
The geopolitics provide a perfect backdrop for pushing the pipeline that will boost the economy through more jobs and price stability, provide energy security, and help balance the trade deficit. Opponents see building the Keystone XL pipeline as a flashpoint for the struggle between old and new energy paradigms—yet with the failure of so-called future energy, the pipeline is representative of our energy future.
Untold billions of taxpayers’ dollars have been spent trying to force renewables into an unnatural economic timeline with the expectation that the laws of nature will bow to the laws of politicians. Yet, not one of them produces a significant percentage of our energy needs. If we lost 20% of our renewable energy, we’d never feel it. If we lost 20% of our oil supply—the amount that goes through the Strait of Hormuz, we could be back to the rationing and gas lines that are reminiscent of the Carter administration.
“President Obama repeatedly assured the American public that a slew of taxpayer-funded projects in his 2009 stimulus package were ‘shovel-ready.’ Yet few of these projects ever got off the ground, and the jobs they produced were negligible,” says National Center for Public Policy Research Senior Fellow, Bonner Cohen. “By contrast, the Keystone XL project really is shovel-ready. And even though it would produce jobs and energy quickly, he refuses to give it the green light.”
In a time of economic war, the Keystone XL pipeline is a job creator that requires no new technology or research, no taxpayer funding while generating new tax revenues, and no new infrastructure—all with virtually no risk (financial or environmental).