We won't make the case that approval would depress gas prices. Many factors are at work in setting those prices. But increasing the North American supply of oil will help stabilize the supply side of the equation over time. More importantly, the Canadian tar sands will be sold somewhere in the global market. All the protests in the world won't change that fact.
The administration has hinted that Keystone approval may hinge on a compromise involving trade-offs in carbon consumption policy. Actually, a compromise has already taken place. It's the 1,616 days, 12 hours, 27 minutes and 57 seconds that have gone by since the permit application was filed.
President Obama has no grounds for further delay. The project has been proposed, studied and debated. The routing has been changed to avoid environmentally sensitive areas. Keystone would expand U.S. access to the third-largest oil reserves in the world. It would bring oil to this country from a neighbor who is a friend and an ally.
The meter is running. It's past time for this project to get a green light.
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