On his first day in office, President Biden canceled permits for the Keystone XL pipeline. Environmentalists and anti-fossil fuel activists should not have applauded his move.
After all, Canada will not stop extracting oil from the tar sands of northern Alberta. Instead, it will simply export oil over existing pipelines or to the Pacific Ocean, where the damage from a potential spill would be harder to address. Biden’s cancellation cost jobs and pushes Canada toward greater economic cooperation with China. It also shakes confidence in U.S. business. Who would invest in the country if any future administration can simply renege on deals with the stroke of a pen? Especially, that is, when the investments involved here reach into the billions of dollars?
Biden’s move was both political theater and an indulgence of his liberal base. But his hypocrisy was stunning even for a politician who has spent a half-century in Washington. Consider that while the Biden administration is killing a pipeline from which the public could benefit, Biden is promoting a pipeline to enrich both one of the world’s worst dictatorships and a group responsible for thousands of U.S. deaths.