Republicans have been blaming President Obama for high gas prices, and for failing to agree to the construction of the Keystone XL pipeline.
Oil tycoon T Boone Pickens was on CNN saying the U.S. should move forward with building the Keystone XL pipeline:
“Of course you should do it. The Saudis claim they have 250 billion barrels of oil. They don’t. Probably 150, 175. But there’s 250 billion barrels in Alberta, and that’s the pipeline. That’s Keystone.”
Pickens added that concerns that all the oil would go to China and India were misplaced since the U.S. was only exporting oil products:
“We’re not exporting. We’re exporting product. They are coming into our refineries and it’s coming out of their high price getting into that arbitrage and shipping it out of the United States. We’re not exporting oil. We’re exporting product.”