Breitling Oil and Gas Morning Podcast #49 April 3rd, 2012

Standing at a podium in front of piles of pipes in Cushing, Okla., last week, President Obama unveiled an executive order meant to speed federal permitting of pipeline infrastructure, including the southern portion of the controversial Keystone XL oil pipeline. Critics immediately jumped on the move, accusing Obama of being “the rooster taking credit for the dawn” and arguing that no federal action is actually needed for that portion of the Keystone pipeline to move forward.

In a recent survey, more than 70 percent of Americans said that Obama’s executive order was unnecessary and agreed that the southern portion of the Keystone XL pipeline, which will run from Cushing to refineries in Port Arthur, Texas, only needs local approval.

Obama’s involvement in the approval process is not even remotely necessary.  I believe Obama’s campaign likely thought it was politically necessary to invent an executive action to help combat his recent low approval ratings

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