First-term Texas Senator Ted Cruz wants lawmakers to stop obsessing over TransCanada's (NYSE:TRP)Keystone XL pipeline, and take a more holistic look at the fossil fuel industry in the United States. Senator Cruz discussed George Mitchell, founder of Mitchell Energy and the pioneer of unconventional drilling as we know it today, explaining the potential the U.S. has if government regulation doesn't sidetrack exploration and production in shale plays in addition to emerging offshore plays. An all-of-the-above approach will help grow our manufacturing base, but approving Keystone XL should still be the main focus so the United States can keep strong relations with Canada, still our largest oil supplier.
This segment is from Tuesday's edition of Digging for Value, in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors @TMFEnergy.