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(business) China Emerging as U.S. Rival for Canadas Oil (moved from ATSNN)

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posted on Dec, 24 2004 @ 12:53 AM
China is seeking a supplier of oil, from our neighbor, Canada. America may be taking our Canadian supplier of oil for granted, and I believe we all should all take notice of negotiations that are currently underway, and likely to be closed soon. Given we are Canada's main customer, we now have another very oil thirsty country seeking the same oil.
Chinese energy companies are on the verge of striking ambitious deals in Canada in efforts to win access to some of the most prized oil reserves in North America.

The deals may create unease for the first time since the 1970's in the traditionally smooth energy relationship between the United States and Canada.

Canada, the largest source of imported oil for the United States, has historically sent almost all its exports of oil south by pipeline to help quench America's thirst for energy. But that arrangement may be about to change as China, which has surpassed Japan as the second-largest market for oil, flexes its muscle in attempts to secure oil, even in places like the cold boreal forests of northern Alberta, where the oil has to be sucked out of the sticky, sandy soil.

Please visit the link provided for the complete story.

How will this, if it happens, affect U.S. and Canadian relations? Just thinking of China at our borders, trading with our ally, creates an uneasy feeling with me. China is growing, and quite possibly will soon be competing with the U.S. for Canadian oil.

[edit on 24-12-2004 by Journey]


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