Thursday, July 14, 2011

Letter to The Wall Street Journal, July 14, 2011

Your front-page article "Canada Has Plenty of Oil, But Does the U.S. Want It?" (July 8) highlights the fact that the U.S. environmental lobby and its helpers in Congress are truly the "party of no."

It seems that the environmental lobby is against developing the Canadian oil sands, drilling offshore, drilling in the Alaskan wilderness, hydraulic fracturing, mountain-top coal mining, electric transmission lines connecting solar power to the grid in the California desert and nuclear power.

To be sure, there are and always have been environmental issues associated with energy development, but I wonder where the environmental lobby is going to get the power to air-condition its plush offices in Washington, D.C. We may just as well mail in the keys to our nation to Saudi Arabia if we are going to say "no" to all energy development.

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1 comment:

  1. Mr. Shulman,

    Between spending the fall and spring semesters at UW-Madison taking graduate coursework in real estate, the rest of my time is spent north of 49, where over the course of my life I have lived and worked a good number of years. Of course you jest about the party of "no", and most disappointing is the fact that you are so ready to surrender the keys to Saudi Arabia. That may have been the wish of the Bushies what with pappi and W in the pocket, but as far as oil goes and will go for the foreseeable future, the keys are "going North young man". The U.S. get 23% of it's oil imports from Canada versus a little more than 10% from the Saudi's. And as the imports have grown from Canada so has the Loonie, from $ .62 USD a decade or so ago to $1.06 most recently. While Cheney and others have alluded to the "our oil" assumptions of the North American continent, my friends here in Canada are busy decoupling their economy from Uncle Sam in favor of "new friends" in China and India. What was once an 87% coupled economy only 15 years ago for Canada is now heading south of 70% and accelerating. No fears though, those plucky Canucks are snapping up prime real estate assets in New York and D.C., recovering more in Toronto from the Barbarians of Wall Street (see Dundee REIT) in favor of Bay Street, and even snatching from the jaws of insolvency and failure such midwest and Wisconsin stalwarts by M & I Bank (sold to BMO), and bringing back pilfered NHL franchises to the home of hockey from hell holes in Dixie and the southwest, but that's another story for another time. It's just a fact checking thing with me (the Saudi's?) - but wasn't surprised that it showed up in the WSJ - then again NOTW had already exceeded it's time stamp in the Murdoch boys empire.