“Despite the uncertainty and political fighting over the Keystone XL pipeline, Valero has continued to invest in its U.S. refining operation.
“In 2011 we spent nearly $3 billion on projects, and for 2012 our capital expenditure budget is over $3 billion. These expenditures are keeping our employees on the job and putting additional people to work.
“To reference two of our refineries, at Port Arthur , Texas , we have 1,600 contractors working on an expansion project, and at St. Charles Parish, Louisiana , we have another 1,000 contractors working on a separate project.
“We need this kind of economic activity to accelerate to help all Americans. This illustrates why President Obama's rejection of the Keystone XL pipeline is so absurd.
“There are pipelines in every neighborhood all across America. The administration’s decision was not about pipelines, it was about the misguided beliefs that Canadian oil sands development should be stopped and that fossil fuel prices should increase to make alternative energy more attractive.
“Instead, we should be impressed with how well the oil sands engineering and recovery technology has advanced, and the economic benefits this development brings.
“Having more oil available in the marketplace has the potential to lower prices for consumers.
“As an independent refiner, Valero buys all of the oil we process. Due to the administration’s misguided policies, refiners like Valero will have to buy more oil from other sources outside the U.S. and Canada.
“Consumers will bear the additional shipping cost, not to mention the additional greenhouse gas emissions and political risks.
“With all the issues facing our country, it is absolutely unbelievable our federal government says no to a company like TransCanada that is willing to spend over $7 billion and put Americans to work on a pipeline.
“The administration’s decision throws dirt into the face of our closest ally and largest trading partner.
“The point above is that it is not about pipelines as many pipelines cross the Ogallala Aquifer, in the Great Plains region, and, in fact, there is already significant oil and gas production in the area covered by the aquifer.
“This is politics at its worst.”
It seems as if the Ayatollah Obama would much rather buy oil from his Marxist / Socialist, nut case buddy, Hugo Chavez, of Venezuela.
The Canadian oil via the Keystone Pipeline could have replaced almost all the oil we buy from Chavez.
Who's one of Chavez' BFF? Why none other than Iran's Ahmadinnerjacket. Funny how every time the Ayatollah Obama runs up against the Iranian mullahs, the mullahs always win.
Why do you think that is? It couldn't be due to my theory that there was a massive effort on the part of the Iranian Guard to use pre-paid Visa cards to accelerate Ayatollah Obama's 2008 "Internet contributions?"
Nah, not even a corrupt, Chicago-bred, Marxist / Socialist would stoop that low and sell the USA to the highest bidder, would he?
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