Oil, Ukraine, and a Sweet Deal for PutinPosted: April 22, 2014
Oil, Ukraine, and a Sweet Deal for Putin
by JBS President John F. McManus
The Bakken energy field amounts to the largest domestic oil discovery since the one at Alaska’s Prudhoe Bay. Stretching over North Dakota, South Dakota and Montana (also into Canada’s Saskatchewan province), the amount of recoverable oil in this region could do away with any need to import the precious commodity. Small cities in western North Dakota have been overrun with eager job seekers who are benefitting greatly from the need for more and more workers. But there’s a need for a pipeline to transport this oil to refineries in states to the south.
Not only is the Bakken capable of releasing OPEC’s hold on our nation, additional discoveries now known to exist under the Rocky Mountain states hold an estimated three to four times what is being tapped in North Dakota and its neighbors. Shortly after beginning his second term in 2005, President George W. Bush gave the order for extracting this treasure. But nothing has been done.
The Keystone pipeline project proposes to ship crude oil from the Bakken and from Canadian oil sands projects to refineries in our nation’s southern states. But hurdles are still blocking its construction. If the Keystone pipeline were constructed, there would be no need for imports from unfriendly Venezuela and unpredictable Russia.. Yes, our nation does import oil from these two countries while also continuing to receive imports from the Middle East.
Environmental groups continue to block development of known resources and needed pipelines. Is it possible that nations who benefit financially and diplomatically from impediments placed in the way of energy independence are financing some of these environmental organizations? Also, why does our own government continue to be a hindrance rather than helping America to become independent?
On the other side of the globe, we see that energy starved Ukraine is highly dependent on Russia for natural gas. But Ukraine is also in dire financial straits, owing many billions for energy already received from its eastern neighbor. American foreign aid, supplied to Ukraine in response to Russia’s annexation of the Crimean peninsula, ends up in the coffers of Russia’s Vladimir Putin for natural gas payments. Is this why he ordered the occupation of Crimea? Should the American people fill Putin’s pockets?
The need for oil and natural gas is obvious. But, if our nation acts in proper self-interest, America can gain release from dependence on foreign energy suppliers. Will the Obama administration continue to drag its feet on energy matters? Will the environmentalists be told to get out of the way of progress toward energy independence? Time will tell. Energy independence can be had if U.S. leaders do what good sense calls upon them to do.