Keystone Pipeline cancellation was 'mistake,' economist under Obama, Clinton admits — and slowing oil permits, 'being hostile' toward natural gas

[Counselor706]

Larry Summers — who served as treasury secretary under former President Bill Clinton and was the director of the National Economic Council under former President Barack Obama — admitted during a Friday interview on Wall Street Week that cancelling the Keystone Pipeline was a "mistake" and that slowing oil permits and "being hostile as a country" toward natural gas were errors as well.

During the interview, Summers was asked about the OPEC+ move to slash oil production by 2 million barrels a day in order to control prices — a move that was a blow to President Joe Biden, who made a trip to Saudi Arabia over the summer to implore oil kingpins there to increase production in order to lower gas prices.

Specifically, Summers was asked if the oil production downturn will have "larger macroeconomic effects" and possibly speed us into a global recession.

"There's nothing good in this," Summers replied.

https://www.theblaze.com/news/keyst...-mistake-economist-under-obama-clinton-admits

 

[SubzeroGirl]

Not enough clickbait in the title.

“Clinton and Obama throw Biden under the bus”

 

[Chobham]

Really didn't need Summers opinion on this one.

 

[JohnEBbad]

Breaking: Iranian Oil Workers threaten strikes to support the protests against the government.

Next Week: NYT opinion page and Gavin Newsom proclaim rising gas prices as "gouging."

The rest of us wonder, why do we rely on energy from so many unstable countries when we have so much of our own?

 

[JohnEBbad]

PS - TOLD YOU SO!!!

 

[Chobham]

Summers will be ignored. Don't forget, the "wokester's" ran his ass out of Harvard for daring to speak the truth.

As an aside, that was the first concrete indication that our Univ. systems were going off the rails.

 

[JohnEBbad]

On a crazy train.

 

[JohnnySavage]

Breaking: Iranian Oil Workers threaten strikes to support the protests against the government.

Next Week: NYT opinion page and Gavin Newsom proclaim rising gas prices as "gouging."

The rest of us wonder, why do we rely on energy from so many unstable countries when we have so much of our own?

I, too, consider Canadahhhh our 51st state.

 

[JohnEBbad]

I refer to the cancelled permits and refusal to issue new permits.

Keystone was cancelled because somebody with powerful connections invested heavily in rail stock.



His name would be Warren Buffet...

 

[ll74]

Keystone was cancelled because somebody didn't want to give up their land to give Canada more money.

 

[jomar]

Picking up where Rightguide left off, eh? Or maybe you are RG.

 

[docoral]

Summers will be ignored. Don't forget, the "wokester's" ran his ass out of Harvard for daring to speak the truth.

As an aside, that was the first concrete indication that our Univ. systems were going off the rails.

A few judges refuse to hire students from Yale, that's quite a statement!!

 

[wallstreetguy]

Keystone was cancelled because somebody didn't want to give up their land to give Canada more money.

Oh yeah, those evil Cannadians.
That was not the issue. The issue is that an alliance of America-haters and useful idiot Greta Thunbergists thought it would be a good idea to not have a source of cheap, reliable, clean and safe natural gas for US consumers. They got a guy named Biden to buy into it. He promised it would happen if he was elected. He fulfilled his campaign pledge. Economics 101 kicked in.
Now, Dems have to blame somebody and Russians and Saudis are their new punching bags. Bad form and worse policy.

 

[JohnEBbad]

Whatever gets you out of your car and onto public transportation.
Soon we'll be like any third would country when an appointed time is just a suggestion.

I wonder if hitching posts will make a comeback. We've plenty of illegal aliens who would be happy street-sweeping.

 

[Chobham]

Whatever gets you out of your car and onto public transportation.
Soon we'll be like any third would country when an appointed time is just a suggestion.

I wonder if hitching posts will make a comeback. We've plenty of illegal aliens who would be happy street-sweeping.

Communist Manifesto Chapter 2, line item #6.

"6. Centralisation of the means of communication and transport in the hands of the State."

 

[JohnEBbad]

Makes it so much easier to round up and search citizens for contraband.

 

[renard_ruse]

The same people who do not want US manufacturing independence are obsessed over "energy independence." That's because they are prejudiced against many of the countries we get the energy from NOT because they actually give two rips about the US or its "independence."

I like the fact we get a lot of our energy from many of the countries around the world I admire. Countries that challenge the New World Order "western" establishment.

 

[JohnEBbad]

Straw man much?

You the lead poster for the Straw Man Group?

 

[ll74]

Oh yeah, those evil Cannadians.
That was not the issue. The issue is that an alliance of America-haters and useful idiot Greta Thunbergists thought it would be a good idea to not have a source of cheap, reliable, clean and safe natural gas for US consumers. They got a guy named Biden to buy into it. He promised it would happen if he was elected. He fulfilled his campaign pledge. Economics 101 kicked in.
Now, Dems have to blame somebody and Russians and Saudis are their new punching bags. Bad form and worse policy.

They're not evil. There's just no benefit to our country to destroy native American land so Canada can sell their oil faster. You'd think that it would be directly injected into Americans' gas tanks, the way the right talks about it....the oil being transported isn't even used for gas.

 

[wallstreetguy]

They're not evil. There's just no benefit to our country to destroy native American land so Canada can sell their oil faster. You'd think that it would be directly injected into Americans' gas tanks, the way the right talks about it....the oil being transported isn't even used for gas.

The people blocking it in the courts were private (white) landowners .The Indians already lost in court. But that is moot.
Natural gas heats homes. I am in my house for more time than I am in a car. Lots of Democratic voters will pay more money to heat their homes. Fine. That is what they/you/the majority voted for. Biden said he would follow Greta's lead and give him credit, he is doing it.
So, if anyone who voted Dem complains about inflation or economic hard times, next time, listen to what your candidate promises. Biden, if anything, followed up. He should be lauded for that.
As he stated often, America needs to be taken down a notch or two. And he is doing it, in spades.

 

[ll74]

The people blocking it in the courts were private (white) landowners .The Indians already lost in court. But that is moot.
Natural gas heats homes. I am in my house for more time than I am in a car. Lots of Democratic voters will pay more money to heat their homes. Fine. That is what they/you/the majority voted for. Biden said he would follow Greta's lead and give him credit, he is doing it.
So, if anyone who voted Dem complains about inflation or economic hard times, next time, listen to what your candidate promises. Biden, if anything, followed up. He should be lauded for that.
As he stated often, America needs to be taken down a notch or two. And he is doing it, in spades.

Sounds like you're not a fan.

 

[wallstreetguy]

Sounds like you're not a fan.

A fan of Biden? LOL, you think?

 

[ll74]

A fan of Biden? LOL, you think?

You seem to allude that perspective.

 

[wallstreetguy]

You seem to allude that perspective.

Very perceptive of you!

 

[VinnyVeritas]

There's a cogent strategy being employed in that shutting down domestic production and pissing off your suppliers by pissing down their backs and calling it rain raises the price of energy, specifically gasoline which gets people out of their cars and off the roads which, in turn, saves the planet and limits population mobility which makes it easier to contain and control them when the time comes.