OTTAWA -- To lift a quip from Prime Minister Stephen Harper’s Arctic sovereignty policy and apply it to the American view of Alberta’s oil sands: use it or lose it.
The Chinese government pushed its shovel deep into Canada’s energy motherlode on Monday when it announced a $2-billion stake in a five-billion-barrel reserve of “dirty oil” that Americans increasingly find unworthy of fuelling their vehicles.
The 60% claim by PetroChina in two projects owned by Athabasca Oil Sands Corp., while small compared to the great gobs of capital pouring into oil sands expansion and extraction, are the global giant’s largest investment in Canadian energy yet.
And China usually buys into product it aims to consume.
Sources in Washington predict politicians there will not be pleased at having a massive supply of secure energy on their northern doorstep slipping under Chinese ownership.
Well, too bad.
Exactly, too bad. Why is Chinese ownership bad, but American ownership is okay? Why can American and Dutch companies buy up the oilsands and then decide the oil is too "dirty" for them, yet China's money is somehow "dirty" so they can't invest.
Alberta needs to sell it's oil and if the Obama administration thinks we "stink", then don't complain if we start selling our output to the highest buyer.
To the econuts, fight China on this one why don't you? Tell them how bad the "tarsands" are, and how they shouldn't invest in Canada's "dirty" oil. It's not like they can't get "blood" oil from other countries.
What will Quebec do now that Alberta is a have not province? If all provinces are have not, how can there be a transfer of tax dollars from one region to another? How can equalization work? Seeing how the Bloc are the federal choice in Quebec, maybe they should be made to be accountable for any equalization loses. Let the Bloc explain their policy on how Quebec can leave Canada and still survive. Let the Bloc finally start to pay the bills, instead of mouthing off about how good separation from Canada will be.
Do I want China investing in the oilsands, not really, but if the Americans won't, as they cry about how "dirty" that oil is, than okay, it won't bother me for long. Welcome China, I like your people a lot, just not your political (or lack thereof)system.
Now, didn't PM Harper warn the Americans of the consequences of opening up the free trade agreement? See what protectionism nets you Obamamations? Hey, and Saskatchewan has potash, and oil, this could get interesting.