by Karl Denninger
Market-Ticker.org
Like it or not, folks, this is like a ship — or a train.
If your car stalls on a train track, and a train is coming, you run — toward the train and alongside the track. Why?
Because it cannot stop, it will destroy your vehicle with certainty, if you’re in it you will be destroyed, and the pieces will be thrown forward so you must run the other way, not sideways or in the direction where the pieces will be thrown lest one or more of them kill you.
Joe Biden’s administration killed Keystone. This action, like Jimmy Carter’s shutdown of nuclear fuel reprocessing, was entirely intentional. Its purpose was to cripple oil and gas production and even if reversed by a subsequent administration will do so because no private enterprise in its right mind will ever spend a nickel where it can be destroyed without compensation by executive fiat in the future.
Carter’s order was voided by Ronald Reagan on his first day in office. It didn’t matter. There is still, forty years later, no commercial nuclear fuel reprocessing industry in the United States.