Obama Losing Canada’s Oil to China
6th July 2011
The Obama administration is foot-dragging on approving a pipeline to deliver abundant Canadian oil to the United States at the same time the Chinese are investing in a pipeline that could send that oil to China.
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The Canadian province of Alberta has the world’s third-largest oil reserves after Saudi Arabia and Venezuela, and more than Russia or Iran. Daily production from oil sands is expected to rise from 1.5 million barrels today to 3.7 million in 2025.
Delivering the oil will mean building two pipelines, one south to the refineries on the Texas Gulf Coast and the other west toward the Pacific, where it can be exported to China.
If the United States doesn’t approve its pipeline promptly due to environmental concerns, “Canada might increasingly look to China, thinking America doesn’t want a big stake in what environmentalists call ‘dirty oil,’ which they say increases greenhouse gas emissions,” according to a report from The Associated Press.
My, what a surprise. Aren’t you surprised? I’m sure surprised.