For over five years President Obama has been dithering in regards to building the Keystone XL pipeline, which if constructed, will bring petroleum from the oil sands in western Canada to America’s heartland.
Over in Iraq, Obama is utilizing token measures in an attempt to slow the terror group ISIS and to give some relief to the religious minorities being attacked by the Islamo-fascists.
For the time being, ISIS seems content in selling oil, earning $3 million per day. But the jiadists appear to crazed enough to destroy oil fields, which would–duh!–drive up the price of oil.
Which is why America needs to lessen its dependence on oil from the Middle East.
There is much at home Obama can do. Rather than bow to his environmentalist donors, the president can expedite the approval of drilling and fracking on federally-owned land and open up more of our continental shelf to oil exploration. Obama can also alter the tone of his administration, which is decidedly anti-fossil fuel.
We don’t know if the president took an economics course at Occidental or Columbia because he hasn’t released his college transcripts, but the macroeconomic equation is simple. More petroleum in the marketplace means cheaper oil.
More drilling and fracking in American means more jobs. Building the Keystone XL pipeline also means more good-paying jobs.
The Obama recovery is dominated by low-paying, low-skilled, and part-time positions.
Obama has to ask himself if he will be burdened by leftist ideology for the remaining two-and-a-half years of his presidency–or will he be a leader?
John Ruberry regularly blogs at Marathon Pundit.