Biden Made a Big Mistake with the Keystone XL Pipeline

Tom Petrie, oil and gas investment banker, is the guest for Kim's Health and Hydrocarbons Show.
The Kim Monson Show
The Kim Monson Show
Biden Made a Big Mistake with the Keystone XL Pipeline

Kim begins the week to congratulate the new State Colorado GOP leadership: Kristi Burton Brown, Pricilla Rahn and Marilyn Harris. The team seems to have a battle plan in place with election integrity as the top issue. Producer Steve muses when will people understand and see the effect of what has happened in the last five months. Energy costs have risen around 40% since the inauguration of the Biden administration. Consumer prices will increase and have a hurtful financial impact on all households.

Constitutional expert with the Independence Institute Rob Natelson joins Kim to discuss SB21-132, Digital Communications Regulation. This bill would regulate all digital communications in Colorado. The bill’s sponsor is Sen. Donovan, a leader in the state Democrat party who is running against Rep. Boebert in CD-3. This bill would restore the censorship and licensing regime of the English Crown dating back to 1694. Fifteen years ago Colorado was seen as the third freest state and today we are seen as the third worst state for freedom. This bill is unconstitutional in many respects including the fee is an affront to TABOR (Colorado’s Taxpayer’s Bill of Rights), no trial by jury, and no due process. The bill has recently been turned into a study.

Jason McBride, Senior Vice President with Presidential Wealth Management, comments that bills like SB21-132 seem par for the course. The DOW and NASDAQ had positive days on Friday but the volume was less than the previous day. The NASDAQ is still below its 50 day average. There are innovative ways that you can use to eliminate risks in your financial portfolio. Give Jason a call at 303-694-1600 to discuss.

Tom Petrie, oil and gas investment banker, is the guest for Kim’s Health and Hydrocarbons Show. Tom notes that Biden is motivated to undo everything that Trump accomplished specifically the Keystone pipeline and drilling for hydrocarbons on federal lands. Biden does not care nor does he understand second order consequences. Energy prices will continue to rise with a carbon tax. An economic confrontation is looming with China. There will be humanitarian and economic consequences if we do not keep a strong US-Canadian alliance. The natural market for Canada is south of the border, not necessarily west to the Pacific rim. The Green New Deal disaster experienced in Texas during the deep freeze is a lesson in the problem of intermittency. When the storm hit there was no solution for the unavailability of solar and wind energy. This makes us more vulnerable in conditions we cannot control as consumers. It may take a few decades before we can get to efficient battery storage. Rare earth mining has powerful earth disruption, more than fossil fuels. The disposal of electric car batteries is another challenge. It is important to critically assess the effectiveness of policies which to date are on a negative learning curve.

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