Oil and Gas Today with Chris Faulkner – Podcast #514

The Canadian Government announced a new pipeline proposal.  This one doesn’t cross the border of the United States.  They’ve learned their lesson on that one.

This proposal is to go west….to the Pacific Coast….where the oil will be loaded onto boats and sent directly to….you guessed it….China.

This is a very sad commentary for several reasons.  One, Canada is our Number-One ally in the world.  And Two, they have the 3rd largest proven oil reserves in the world.

Canada is fully aware of the vastness of its tar sands resource, and believe me…they’re going to monetize it.  If we’re too stupid to solidify this important strategic alliance for the good of our national security and our energy independence, then I really can’t blame Canada for looking elsewhere.  Hopefully we’ll have leadership in this country soon, who gets it…and approves the Keystone pipeline anyway.

It’s sad….really sad.

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