Keystone Pipeline cancellation was ‘mistake,’ economist under Obama, Clinton admits – IOTW Report

Keystone Pipeline cancellation was ‘mistake,’ economist under Obama, Clinton admits

h/t joe6pak

Blaze: Larry Summers — who served as treasury secretary under former President Bill Clinton and was the director of the National Economic Council under former President Barack Obama — admitted during a Friday interview on Wall Street Week that cancelling the Keystone Pipeline was a “mistake” and that slowing oil permits and “being hostile as a country” toward natural gas were errors as well.

During the interview, Summers was asked about the OPEC+ move to slash oil production by 2 million barrels a day in order to control prices — a move that was a blow to President Joe Biden, who made a trip to Saudi Arabia over the summer to implore oil kingpins there to increase production in order to lower gas prices.

Specifically, Summers was asked if the oil production downturn will have “larger macroeconomic effects” and possibly speed us into a global recession. “There’s nothing good in this,” Summers replied.

8 Comments on Keystone Pipeline cancellation was ‘mistake,’ economist under Obama, Clinton admits

  1. You got that right Jethro! There are no mistakes or coincidences for that matter in a loong list of actions that only an enemy of the state would do, all from people who take stool softeners for a headache!

  2. “We crucially need regulatory relief, or we’re not gonna get renewables online fast, and we’re not going to get the transmission lines that are necessary for renewables to become a large part of our energy fast,” Summers added.

    So that’s what it’s all about.

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