Report: Obama Set to Reject Keystone Pipeline.(BI).The Obama administration is expected to reject the controversial Keystone Pipeline this afternoon, according to Fox News.The State Department is expected to vote against the pipeline this afternoon. Transcanada will however be allowed to reapply with an alternate route going through Nebraska.The administration will be unlikely to approve the pipeline under the timeline for the payroll tax cut extension law which requires a decision by February 21.
Hmmmm..........No real surprise there, PM Harper isn't waiting for the OK from the Obama Admin he's already selling parts of the Alberta sands to the Chinese .As he pointed out : "But just because certain people in the United States would like to see Canada be one giant national park for the northern half of North America, I don't think that's part of what our review process is all about".
The $5.5-billion Enbridge pipeline project is all about sending Alberta bitumen in huge oil tankers to China. Beijing’s own state enterprises are among the project’s major backers, and Beijing has been buying up Alberta’s oilpatch at such a dizzying pace lately it’s hard to keep up.
- In the spring of 2010, China’s state-owned Sinopec Corp. took a $4.65-billion piece of Syncrude.
- Then the China Investment Corporation, which is run by the Chinese Communist Party, took possession of a $1.25-billion share of Penn West Petroleum.
- Last summer, the Chinese National Offshore Oil Corporation gobbled up Opti Canada for $2.34 billion. And so on.
- then last month, Sinopec spent $2.2-billion to take over Daylight Energy Ltd.,
- and last week, Petro-China, with the final push of $1.9 billion, became the owner and manager of the MacKay River oilsands project.
Apparently PM Harper knows he can't rely on Pres Obama, he knows where the money is and what creates jobs. Read the full story here.More Under Obama, Oil and Gas Production on Federal Lands Is Down 40% here.
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