The president makes a potentially interesting speech on Thursday in Cushing, Oklahoma. It comes amidst a completely unprecedented March heat wave -- 2,000 records fell last week as cities like Chicago broke records dating back to the 19th century.
Both sides are hyping the presidential decision as pivotal, with Bill McKibben hailing it as "a brave decision" and Jack Gerard characterizing it as "a clear abdication of presidential leadership." Let's try to deconstruct the hype to assess what the decision really means.
The Obama administration's decision Wednesday to reject a pipeline that would have carried crude from Canada's tar sands deposits to Texas oil refineries isn't likely to end investment in the carbon-rich fuel, industry analysts say.
Let's face it: Big Oil is used to getting its way. But not today... and we have President Obama to thank for standing up to them in spite of the political risk. This was a prime-time fight. The oil giants made sure of that.