It’s beginning to look like President Obama has developed a chronic aversion to anything that might be mistaken for “leadership” in his second term. The Keystone XL pipeline was, again, delayed until after the 2014 elections. Of course, then again, maybe this wasn’t political. Maybe the White House just likes watching oil company stocks take a hit every once in a while.
TransCanada stock took a beating after it was announced that Obama would once again push the no-brainer decision on the Keystone pipeline until after the 2014 elections. And, while it
literally figuratively kills me to write the following sentence, it must be pointed out: Even MSNBC (I really, really, really hate the words I’m about to type) got the issue right when Morning Joe took the administration to task for kicking the can down the road. In fact, they even managed to hit the nail on the head when – Hang on, my computer screen seems to be freezing up…
…Ok, I’m back. As I was saying:
Not only is the President’s childlike attempts at political calculus painfully obvious in his latest Keystone delay, but it reeks of ineptitude. After all, what exactly is going to be gained by postponing a major infrastructure project – that would create tens of thousands of jobs – while simultaneously injecting some price relief on domestic energy production? Maybe he wants to save his Keystone denial speech for after the 2014 election? (That actually kinda makes sense. More on that later.)
Remember when Democrats used to salivate at the idea of infrastructure projects? Where the heck did Obama’s fanatic devotion to Keynes-style stimulus suddenly go? Or, is he just not as enthusiastic about this infrastructure project because it’s not a soon-to-be bankrupt green energy company that is clamoring for US taxpayer dollars?
As MSNBC pointed out (it was probably an accident), not only is the latest delay a stunningly self-destructive economic decision, it may prove to be equally idiotic in the realm of politics. After all, which Dems face the most serious challenge in 2014? Primarily, they’re “Blue-Dog” Democrats in fairly conservative districts. Even from a political standpoint, the decision seems to make less sense than a teleprompter-less Obama.
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