THUNDER BAY – The decision in the United States to delay the Keystone XL pipeline has brought out China. The pipeline, which would have transported oil from the Alberta Oilsands to the energy hungry United States has likely been a victim of President Obama’s sinking poll numbers. Just under a year out from the 2012 Presidential election, Obama’s poll numbers, despite facing what looks like a weak field of Republican candidates, remain a serious concern for the Democrats.
It is likely that China will seize the opportunity that political gamesmanship in Washington have generated. China is an energy hungry economic giant. It is very likely that the oil produced in Canada will find a willing market in Asia, as the Americans seem less interested.
Within hours of the announcement that the White House would not approve the pipeline, the Chinese moved into action. It could be a move that the United States later regrets. The Chinese have gained economic clout, and are rapidly becoming America’s landlord, by purchasing up American debt.
That Canadian business interests should look to sell oil where the market will purchase it is simply good business, and keeps jobs going and helps our country’s economy.
Likely for the United States the political wrangling could mean by the time that they decide that they need the oil from Canada, that energy will have been contracted and sold to others. That will leave the United States with the same political rhetoric about having to have an energy policy that reduces dependence on Middle Eastern Oil as just that rhetoric.
Likely for the Democrats, and the environmentalists, the short-term win is going to be one that will reap long-term economic problems.
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