Greece Signs Pipeline Deal As Unemployment Hits 27% - Will U.S. Wait That Long?

Craig Bannister
By Craig Bannister | February 19, 2013 | 11:27 AM EST

Last week, Greece signed a Trans Adriatic Pipeline Agreement, which it hopes will help ease its 27% unemployment rate. Meanwhile, Pres. Obama ponders the Keystone XL pipeline's fate.

Last week, The Washington Post reported that "Greece's poverty deepens as unemployment rate hits record 27 percent." And, The Wall Street Journal reported that Greece had signed a three-way inter-governmental pipeline agreement Albania and Italy.

According to BBC Worldwide, Greece's ministry says the pipeline will mean "direct foreign investments of 1.5 billion euro, 2,000 directly-related new jobs and 10,000 peripheral new jobs" for the country's beleaguered economy.

Meanwhile, as The New York Times reports, the fate of the Keystone XL pipeline lies in Pres. Obama's hands:

"President Obama faces a knotty decision in whether to approve the much-delayed Keystone oil pipeline: a choice between alienating environmental advocates who overwhelmingly supported his candidacy or causing a deep and perhaps lasting rift with Canada."

"FOLLOW ME, WE CAN BE LIKE GREECE," warns the cover of the February 16, 2013, issue of the Barron's, along with a picture of President Obama.

True, U.S. unemployment is "only" 7.9%, but would it really have to hit 27% before the Powers That Be agree to allow Americans to have more oil and jobs?

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