In President Obama's 2012 State of the Union address, American energy policy was discussed at length and the agenda was focused on the United States insulating itself from resource dependence on unstable countries. Today, we still import 3.7 million barrels per day of crude oil from OPEC, and we have made no progress on a final decision to allow the northern portion of the Keystone XL pipeline, which would help offset OPEC imports in exchange for Canadian crude. As T. Boone Pickens pointed out in January, the federal government is not in control of energy policy; fortunately, American business and state governments are picking up the slack.
This segment is from Thursday'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.