I believe it was back in 1973, when my dad was an executive with an oil company, he got hauled in front of Congress to testify on the proposed Alaska pipeline. Senators on the Left accused the industry of threatening the environment in the name of greed, by trying to bring oil to market that was entirely unnecessary. A few months later, once the Arab oil embargo had begun, he was back in front of Congress answering questions from the same Senators who opposed the Alaska pipeline about whether the rumors were true that oil companies were holding tankers off-shore, purposely making the shortage worse and driving up prices. It was an early life-lesson in government for me, watching my dad be publicly accused within months of seeking new oil supplies too aggressively and purposely withholding oil supplies from the market.
I am reminded of all this by the Keystone pipeline brouhaha. One wonders how many of the people opposing the Keystone pipeline will be the first out on the picket line protesting oil prices the next time there is an oil price spike.