Dueling Headlines

First, from yesterday’s New York Times:

Next, from today’s Wall Street Journal:

When you dig into the details, both reports seem “factual.” The question is whether or not these stories represent competing points of view, or competing agendas.

Click on the images to read the full articles.

New Fracking Study Sounds Alert

In addition to causing general environmental degradation, earthquakes and poisoned water, it appears that hydraulic fracturing also leaks methane at dangerous levels not previously suspected.

Fracking study sends alert about leakage of potent greenhouse gas. [Pete Spotts | CSMonitor.com] – A new study finds that fracking is releasing methane, a greenhouse gas, from a Colorado field at a higher rate than estimates suggested. Researchers must determine if the field is an anomaly or part of a bigger problem.

Correcting Rmoney

“We have to have a president who understands how to get an economy going again. He [Obama] does not. He plays 90 rounds of golf when you have 25 million people out of work. He says gasoline prices doubled during his presidency. He says don’t build a Keystone pipeline.”

– Mitt Romney, Florida Debate, 23 January 2012

I am utterly amazed that this sort of argument in favor of Keystone XL goes unchallenged. The fact is that the project would likely increase our gasoline prices. The oil that would be produced from the project would be exported,  because that’s where the money is to be made. Take a look at this from a December 31st USA Today report, noting that fuel is now the largest U.S. export, and that we are now a net fuel exporter.

There’s at least one domestic downside to America’s growing role as a fuel exporter. Experts say the trend helps explain why U.S. motorists are paying more for gasoline. The more fuel that’s sent overseas, the less of a supply cushion there is at home.

Keystone XL is not expected to lower gasoline prices in the United States, nor would it help us move toward “energy independence.” It would, however, help to increase the profits of Big Oil while despoiling environmentally fragile areas and contributing to global warming.

The question remains whether Rmoney is ignorant, cynical or just a big fat liar.