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April 04, 2012

Canadian PM Harper: The Price The US Pays For Canadian Oil Is About To Go Up, Up, Up, Thanks To President Ladies' Tee

I didn't know this.

Good article about how strained the relationship is between Obama and Harper (and Obama and Mexico, too).

And also, how the media hides the story here. They don't want to report another Obama failure. So they don't. They just pretend.

But Harper says Obama's Keystone decision will cost you cash money.

The Winnipeg Free Press reported that Canadian Prime Minister Stephen Harper warned Obama the U.S. will have to pay market prices for its Canadian oil after Obama's de facto veto of the Keystone XL pipeline. Canada is preparing to sell its oil to China.

Until now, NAFTA had shielded the U.S. from having to pay global prices for Canadian oil. That's about to change.

I didn't know that. That's always a tough thing to say, because if you're writing and people are reading, you're supposed to know at least the very basics of stuff.

But I always thought the increased cost of Canadian oil would be an indirect thing -- with no ease for Canada of selling it to us, they don't give us a price break.

But it turns out that Keystone would have directly affected the cost of Canadian oil.

And Obama chose -- chose -- for the US to pay higher prices.

Via John Sexton, writing at Breitbart's BigPeace:

PM Harper: And the truth of the matter is that, when it comes to oil in particular, we do face a significant discount on the marketplace because of the fact that we're a captive supplier. We have made it clear to the people of Canada, one of our national priorities is to make sure that we have the infrastructure and the capacity to export our energy products outside of North America.

Canada was in a poor negotiating position with us on the price of their oil, as they were a captive supplier. And, it turns out, they were nice enough to be okay with this situation. They weren't looking to change it.

But Obama has announced that Canada cannot rely on us to simply take their oil at below market prices.

And now, he says (at the link) this is irrevocable.

In terms of the second part of your question, would approval of this change our mind, uh, the answer is no. Look, the very fact that a "no" could even be said underscores to our country that we must diversify our energy export markets. But as I say we have taken a significant price hit by virtue of the fact that we're a captive supplier and that just does not make sense in terms of the broader interest of the Canadian economy.

Sexton says Solyndra is no longer Obama's biggest energy blunder.

That boondoggle cost us a mere half a billion dollars. This is going to cost us a lot more, year after year after year.

Thanks to LauraW (@laurww on Twitter).

Thus Spake Biden: Our energy policy is the very best it's ever been.

No, really.

In related news, Fisker, which got government funding to build cars in Joe Biden's Delaware, might not (brace yourself) build cars in Joe Biden's Delaware at all.

Not unless it gets additional government money (or private, they allow-- but they do mention sweet, sweet government cash).

Fisker Automotive Inc. said it is delaying production of its next-generation family sedan and may not build the vehicle in Wilmington, Del.," Detroit News reports here. "CEO Tom LaSorda," ex boss of Chrysler, said "Fisker may move production outside the United States" if it doesn't raise enough additional government or private money to build here."

Thanks to @drewmtips and Kenneth.

Status Update: Real.

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posted by Ace at 04:55 PM

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