The Obama War On Pipelines -- November 2, 2014

January 20, 2017, can't come soon enough.

Over at IceAgeNow:

A 2013 INGAA Foundation study found that the number of interstate natural gas pipeline authorizations issued more than 90 days after federal environmental assessments were completed climbed from 8% to 28% since Congress passed the 2005 Energy Policy Act. Rather than streamlining permits, as Congress had intended, the law had the opposite effect. It removed the Federal Energy Regulatory Commission’s ability to keep project reviews on a strict schedule, allowed both state and federal agencies to drag their heels on pipeline permitting, and opened the door to more objections by environmental pressure groups.

Authorization delays were caused by conflicts among federal agencies, as well as inadequate or under-trained agency staff, applicant changes to projects requiring additional or revised environmental review (often in response to environmentalist or other third-party protests and demands), site-access problems, and FERC and other agency reviews of requirements for mitigating asserted environmental impacts, INGAA concluded. Increased partisanship at FERC has also increased delays.

The Obama Army Corps of Engineers slowed pipeline permits by citing the Clean Water Act. Its Fish and Wildlife Service (USFWS) cited the Migratory Bird Treaty Act to justify slow-walking permits. Its Environmental Protection Agency wants to control all “waters of the United States," so as to exert regulatory authority over activities on federal, state and private lands – including drilling, fracking and pipelines – in the name of sustainability, climate change prevention and other eco-mantras.

The MBTA bans the “taking” (harassing, harming, killing, capturing or wounding) of migratory birds, their nests and eggs related to natural gas pipelines and other projects. Because building a pipeline requires clearing a right-of-way, excavating and other activities that could affect wildlife for a short time, a permit is required. But native grasses soon cover the route, and state-of-the-art steel, valves and safety features greatly reduce the likelihood of ruptures and spills, compared to earlier generation pipelines.

And yet the Obama FWS drags its feet on pipeline permits – while approving numerous renewable energy projects beloved by the President and his “green” base, including massive wind turbines that slaughter millions of eagles, hawks, bats and other threatened, endangered and migratory species every year.

Much more at the link. Can't wait until we get adult leadership back in the White House. Another lost decade.

For me personally, I just keep sending letters of "thank you" to the great folks of Minnesota and Nebraska.  Posted earlier:

On another note, it's a shame Warren Buffett bought Burlington Northern Santa Fe some years ago. The closest I can find to compare BNSF is the Union Pacific.

Check out the 10-year graph: http://finance.yahoo.com/echarts?s=UNP+Interactive#{%22range%22%3A%225y%22%2C%22scale%22%3A%22linear%22}.

BNSF, BRK, and UNP investors need to thank Nebraska and Minnesota for the windfall.

By the way, when you get to the 10-year graph on UNP, be sure to look at the bottom of the graph and note the increase in dividends: from 13.5 cents/share in 2009, to 50 cents currently.

And, also note, that the shares split 2-1 back in June, 2014. I assume this means that one is effectively getting $1.00/share, but I could be wrong on that.

Reminder: this is not an investment site. Do not make any investment, financial, or relationship decisions based on what you read here or what you think you may have read here. Don't change any travel plans based on what you read here. 

One of the things about investing, don't fight reality. Watch what's coming out of Washington, DC; it's an open-book test.

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Sports Restaurant Mismanagement

At lap 287, of a 334-lap race, of the NASCAR race I raced down to the neighborhood sports restaurant to see the finish. Wow, not one television set tuned to the race. The Cowboys game was over, so they must have been watching the New England Patriots blow out the Denver Broncos. I raced home on my bike to catch the end of the race on the internet (we don't get ESPN on our basic cable).

What an incredible race to have watched. Last lap -- 334 -- following a caution -- Jimmy Johnson / Jeff Gordon -- 1-- 2. Another caution. Keselowksi fights for 1st. Gordon spins. The caution. 

For all I know the race is over; internet delayed.

I see Gordon did not finish in the top 5. Spun out. It will be interesting to read the sports story.

Having said that, I'm a bit disgusted with the local sports restaurant. The owner has two sports restaurants on the same frontage road about a quarter-mile apart. He must have been struggling because he shut one down this past year and is selling it. In my mind, he shut down the better of the two. Be that as it may, it seems to be me poor management when all television sets are tuned to one football game that does not even involve the local team. If the football game were important, or even close (in score), maybe. But this was a Broncos-Patriot game (the restaurant is in Texas) and the Patriots were blowing out the Broncos. There were probably other football games -- I didn't stick around long enough to look -- but no NASCAR -- third to last race this season -- everything on the line -- and at the Texas Motor Speedway about 20 miles to the west, no less. I am truly amazed. And disappointed.

[Later: saw the comments about Keselowski/Gordon in the green-white-checker. I'm a huge fan of Jeff Gordon's but I think he may have blown it. Keselowski was his usual aggressive self; Gordon failed.]

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99 Things To Do; Bitchin' Is Not One Of Them

I saw that quote over at the Macrumors discussion board the other day. It's a great quote. I use it every time my wife complains about something trivial.

I thought of that when I went to check NASCAR to see the write-up on the finish of today's race, and saw a headline about "thousands turn out to protest Redskins' name at Minnesota game." My hunch is 99% don't even know what "redskin" refers to  (it's not what you think, at least not what I think you think).

So, let the thousands protest the Redskin's name. I've got 99 other things to do, protesting the Redskins' name is not one of them:

• buy flowers for my wife -- done
• pick up photos at Walgreens of our granddaughters -- done
• read some more of my book on dinosaurs and birds -- done
• watch Only Lovers Left Alive -- doing
• follow today's NASCAR race on the internets -- done
• look at UNP's share price over the past five years -- done
• study investment opportunities -- doing
• pour another beverage of my choice -- done
• plan my trip back to the Bakken -- doing
• thaw an Omaha Steak wrapped in bacon for dinner -- doing done (ready to grill)
• blog -- doing
• delete spam -- doing
• ride my bike to local sports restaurant to check out NASCAR -- done
• journal about the loves of my life (three of them; all female; two incredibly sexy; one incredibly beautiful; one incredibly young for being 56 years old)
• sending photos of our granddaughters to my mom who lives on her own in the Rocky Mountains
• reply to e-mail from readers
• pour myself another beverage of my choice -- going to do in a few minutes
• look at the picture of a whitetail that Don sent me
• start preparing dinner for my wife and me; she should be home any minute; babysitting new granddaughter
• continue watching Only Lovers Left Alive -- doing
• plan agenda for daughter who arrives from Portland Tuesday
• plan agenda for brother-in-law, his wife, who arrive from California Tuesday
• watch one or two episodes of Big Bang Theory later tonight while eating dinner
• watch a bit of Sunday Night Football later tonight
• watch Lost In Translation at midnight
• check in on the Broncos-Patriots game -- done (43 - 21; what a debacle)
• write letter to bicycling friends in California, about cycling fun out here