Today President Obama spoke about energy policy at Prince George’s Community College in Largo, Maryland. The President said we need an energy strategy for the future and an “all of the above” strategy for the 21st century that develops every source of American-made energy.
The Administration seems to have missed the mark again. Clearly every source is not in the Administration’s plan as the EPA’s Utility MACT regulation is forcing the closure of clean coal power plants throughout the country, resulting in lost jobs.
The President also stated that his Administration has approved dozens of new pipelines to transport oil:
We’ve quadrupled the number of operating oil rigs to a record high. I want everybody to listen to that — we have more oil rigs operating now than ever. That’s a fact. We’ve approved dozens of new pipelines to move oil across the country. We announced our support for a new one in Oklahoma that will help get more oil down to refineries on the Gulf Coast.
The pipeline in Oklahoma the President is referencing is what will be a section of the Keystone XL pipeline which TransCanada announced they will begin construction on soon in Oklahoma and Texas. The President decided that it wasn’t in the nation’s best interest back in January to approve the entire stretch of the pipeline from Canada down to Texas. Keystone XL would bolster our supply and provide manufacturers with an affordable source of energy.
Manufacturers can’t afford more of the same policies from Washington which are driving up energy prices and stifling growth. It’s time for a real “all of the above” approach which includes developing all domestic sources of energy to drive down energy prices.