? All we are saying | Main | A teachable moment ?
September 09, 2009
Fungible
I admit there are aspects of the Obama administration's foreign policy I find amusing. Take Alberta's tar sands, for example, where output is set to double and profits to triple by 2013.
The Obama administration's apparent distaste for Alberta's environmentally challenged oil sands has cast a cloud over the sector's future. But PetroChina's $1.9-billion investment this week in a private oil sands player showed the world is still ready to beat a path to the country with the world's second largest oil reserves outside of Saudi Arabia.
It also changed the tone out of Washington, which suddenly became concerned about China's participation in the sector. Canada is currently the largest supplier of oil to the United States and will become the world's sixth-largest producer by 2015, according to the Canadian Association of Petroleum Producers.
It also changed the tone out of Washington, which suddenly became concerned about China's participation in the sector. Canada is currently the largest supplier of oil to the United States and will become the world's sixth-largest producer by 2015, according to the Canadian Association of Petroleum Producers.
By contrast with events south of the border, "communist" China takes a pragmatic view rendering the Obama administration's eco-Marxism in sharp relief.
Posted by Ghost of a flea at September 9, 2009 07:43 AM
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