Wednesday, 29 January 2014

Obama speech yielded nothing new on Keystone XL

  • Pres. Obama’s State of the Union address brought no clues on the pending decision of the Keystone XL pipeline (TRP -1.5%), but some pro-energy remarks seem to have left oil and natural gas producers and their lobbyists happier than environmental groups.

  • Obama continued his support for an “all of the above” energy strategy, and praised natural gas as “the bridge fuel that can power our economy with less of the carbon pollution that causes climate change.”

  • “His words are going in the right direction for us,” Jack Gerard, president of the American Petroleum Institute, says.

  • The speech seemed a far cry from from 2013, when Obama raised a call to arms against climate change deniers and fossil fuels, and threatened "if Congress won’t act on climate change, I will."

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