China About To Suck Canada Dry of Oil...America Not So Lucky

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posted on Oct, 29 2012 @ 10:33 AM
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TransCanada Plans $3 Billion Oil-Sands Line With PetroChina


www.bloomberg.com...

Well, it looks like China went a further step into sucking out more of Canada's resources by investing in a pipeline which will chug out hundreds of thousands of barrels PER DAY in Alberta.


TransCanada Corp. (TRP) and a unit of PetroChina Co. Ltd. agreed to develop a C$3 billion ($3 billion) oil pipeline to ship crude from oil-sands projects in northern Alberta.

TransCanada and Phoenix Energy Holdings Ltd. will each own 50 percent of the proposed Grand Rapids Pipeline, which will ship oil 500 kilometers (310 miles) from the Fort McMurray oil- sands production area to Edmonton, according to a statement today. The stake would be the largest taken by a Chinese company in a Canadian pipeline, according to data compiled by Bloomberg.

“This is the first major pipeline project to meet the needs of this fast-growing area,” TransCanada Chief Executive Officer Russ Girling said in the statement.

The plan includes a 900,000 barrel-a-day crude pipeline, and a 330,000 barrel-a-day pipeline for diluent, fluids mixed with tar-like bitumen so it can flow through pipelines.

The project is expected to be in service by 2017.


Moreover, Canadian tax payers are also screwed because any Chinese investors can the Canadian government if China does not have its way in extracting resources from Canada! Can you believe that FIPA did this behind closed doors?

Letter: FIPA deal with China threatens Canadian sovereignty


www.montrealgazette.com...

The Foreign Investment Promotion and Protection Agreement (FIPA) between Canada and China, a bilateral trade agreement that has been organized and discussed almost entirely behind closed doors, could very soon commit our country and us as taxpayers and Canadians to the most sweeping trade deal in a generation — without a single vote or public debate.

FIPA would give Chinese investors enormous power in the realm of extracting Canadian resources and the right to contest provincial restrictions in a court arbitrated by corporate lawyers and bureaucrats. To wit: it would allow China to sue the Canadian government, should Canadian citizens or lawmakers get in the way by attempting to protect our environment, our jobs, or our resources.

By allowing foreign investors such power within our borders and over our resources we are inviting threats to Canadian sovereignty in the interest of a deal that details little reciprocity. In short we are selling our resources — and how they extracted — for a song. That FIPA would be pushed to ratification by the Harper government without the input, permission, or even the knowledge of the Canadian public is irrefutably undemocratic.

Having been raised in Swift Current, Sask., I have seen with my own eyes the beauty of our environment and the richness of our resources. I urge my fellow Canadians to consider what it means to put these things in the hands of foreign investors who likely have no personal ties to them; foreign investors who may have no compulsion to extract our resources in a way that is mutually beneficial or cooperative.


Meanwhile though, when Mitt Romney was talking in the second live presidential debate, he was claiming that there will be a pipeline coming down from BC into the states. Well, guess again!

Thousands Gather for BC Pipeline Protest


www.theepochtimes.com...


Thousands of people crowded onto the lawn of the B.C. Legislature Monday to protest the proposed Northern Gateway pipeline.

Although organizers had said some demonstrators would engage in acts of civil disobedience and that arrests could be expected, the protest remained peaceful.

Many held signs with slogans such as “Enbridge Will Kill Our Coast,” “Not Gonna Happen Steve,” and “Tanker Free B.C. For Me.”



So there you have it...China has secured its investment in Alberta where the pipeline will be, while US is still trying to bully BC into making a pipeline through it from Alberta. So who is winning the oil resource race so far? That's right...China.
edit on 29-10-2012 by Skywatcher2011 because: added note




posted on Oct, 29 2012 @ 11:05 AM
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Meanwhile though, when Mitt Romney was talking in the second live presidential debate, he was claiming that there will be a pipeline coming down from BC into the states.




So there you have it...China has secured its investment in Alberta where the pipeline will be, while US is still trying to bully BC into making a pipeline through it from Alberta. So who is winning the oil resource race so far? That's right...China.


Keystone pipeline is the one to the states, and it doesn't go through BC, it comes from Alberta.
www.washingtonpost.com...


Thousands of people crowded onto the lawn of the B.C. Legislature Monday to protest the proposed Northern Gateway pipeline.


The above - Gateway Pipeline is the one going through BC, to China.
If Romney is claiming oil is coming from BC, he needs to look at a map....



posted on Oct, 29 2012 @ 11:12 AM
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In my opinion, I would MUCH rather see Canadian Natural Resources stay Domestic North America, it promotes the idea of promoting more jobs, more industry and more money for our economy (Canada, US and Mexico).

Obama has certainly thrown a wrench into this plan unfortunately.

On paper, Romney would amend this issue with his economic plan.

But at the end of the day, its all about the bottom line, and if the dealing with the US is costing dollars, those who are looking to increase their margins are more then happy to send it overseas.

To reiterate, i would much rather this stay local.



posted on Oct, 29 2012 @ 11:29 AM
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If it keeps the tar sand oil from being pumped across the US, I'm all for China buying it. I think its stupid to put our nations aquifers at risk to increase big oil profits.



posted on Nov, 30 2012 @ 11:46 PM
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echo007

If it keeps the tar sand oil from being pumped across the US, I'm all for China buying it. I think its stupid to put our nations aquifers at risk to increase big oil profits.


China isn't much better


FIPA would give Chinese investors enormous power in the realm of extracting Canadian resources and the right to contest provincial restrictions in a court arbitrated by corporate lawyers and bureaucrats. To wit: it would allow China to sue the Canadian government, should Canadian citizens or lawmakers get in the way by attempting to protect our environment, our jobs, or our resources.


edit on 30-11-2012 by knoledgeispower because: (no reason given)



posted on Nov, 30 2012 @ 11:57 PM
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The US isn't getting Keystone either. We are keeping that oil in Canada to bring the price of gas down here. Because of all the stalling in the US our oil prices in Canada are dropping because it is all waiting to be moved. Faster to refine it here ourselves, plus it adds jobs here.

Personally I am not afraid of the pipelines or oil and appreciate the jobs. The pipeline will be going from Alberta to Eastern Canada where it will be refined.

business.financialpost.com...
edit on 30-11-2012 by icmom because: (no reason given)


Thank you Obama for looking out for us in Canada
edit on 1-12-2012 by icmom because: (no reason given)



posted on Dec, 1 2012 @ 12:15 AM
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Hopefully not going too far off topic. but I think Canada has given up on the US as a trade partner. Harper has been all over recently making new trade partners. Our uranium will now be going to India and China. I actually see this as a bad sign for the US. Love or hate Harper, he's an economist and seems to know what he's doing. I heard from a relative who works at a large uranium research facility that they were going to have to start laying off because Japan and US weren't buying as much uranium. Within a few weeks he had this deal. That company is now doing more hiring.

"Mr. Harper is on a six-day visit to India, his second official visit to the country in three years. The visit comes at a time when Canada is looking to boost its economy through aggressive efforts to increase trade with Asia as the U.S. and European economies slow.

Canada is the world's second-biggest uranium producer, according to the World Nuclear Association, and could find a ready market for the nuclear fuel in India.

Earlier this year, Canada also struck a deal with China, allowing the sale of uranium yellowcake for use in Chinese nuclear-power plants"

online.wsj.com...





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