A Chinese oil giant is bidding for a Canadian energy producer for all the obvious reasons - to secure non-Mid East energy for China and to get a window on advanced Western extraction technology, includig fracking and deepwater drilling.
But we can count on the Canadians to do the right thing, right? Uh huh - just as they can count on us:
The government of [Conservative] Stephen Harper, Canada’s prime minister, has softened its earlier opposition to Chinese investments in the country. During his early days in office, Mr. Harper repeatedly challenged China’s human rights record and occasionally snubbed its officials, to the dismay of many in corporate Canada.
More recently, however, Mr. Harper has dropped that rhetoric and hailed China as a new market for Canadian energy, particularly oil from the oil sands of Alberta. Nearly all of Canada’s oil exports now go to the United States.
Opposition to the Keystone XL pipeline, which would take oil sands production to the American Gulf Coast, appears to be a factor in Mr. Harper’s recent attempts to solicit China as both a customer of and investor in Canada’s energy sector.
The idea that Obama needs to wait until December to approve Keystone because he doesn't want to antagonize the enviros in his base is all very understandable in All About Obamaworld, but the real world is continuing to turn with or withut him. We need to get past this November election so Obama can either resume playing at President or pass the baton to Romney.