KEYSTONE FALLOUT: AS PROMISED, CANADA BUILDING PIPELINES TO SELL OIL TO CHINA
Breitbartt Big Government ^ | June 14,2012 | JOHN SEXTON
In April, Canadian Prime Minister Stephen Harper revealed disheartening consequences for America's energy policy at a think-tank event in Washington. Asked about President Obama's decision to put off a decision on the construction of the cross-border Keystone XL pipeline, Harper explained that it would permanently alter Canadian energy policy.
Now fast forward a couple months, and the New York Times is reporting this:
While Joe Oliver, Canada’s minister of natural resources, said in an interview that the United States would remain Canada’s “most important customer,” billions of barrels of oil that would have been refined and used in the United States are now poised to head elsewhere. Expansion of Canada’s fast-growing oil-sands industry will be restricted by the lack of pipeline capacity before the decade’s end, he said, which “adds to the urgency of building them so that the resources will not be stranded.”
Three new pipeline network proposals — two that call for heading west and the other east — have been put forward.
In other words, Stephen Harper was not making an idle threat or a political statement. Canada is moving full speed ahead with plans to sell tar-sands oil to other consumers, particularly China.
The benefits to Canada of exporting to Asia are obvious. Canada currently earns less per barrel for its oil than the market price because it is a captive supplier to the U.S. Opening the market to Asia means more money for Canada. But there is no conceivable benefit to the United States in having oil from our closest, most trusted neighbor sold to China. The United States loses jobs and is forced to continuing buy its oil from nations like Venezuela and Saudi Arabia instead.
(Excerpt) Read more at breitbart.com ...
