Oil - Begger Thy Neighbour

Sad but true that Canadian fracking technology rescued the U.S. from an inevitable energy disaster just in time to get president Obama re-elected.

It is also true that U.S. oil and natural gas recovered via Canadian fracking technology has for the moment marginalized Canada’s Alberta tar sands as a source of oil sold in the United States.  President Obama has thanked Canada for saving his fracking ass by crapping all over Canadian efforts to develop markets for tar sands oil in the U.S. and/or through U.S. ports.

It’s not a joke. Canada and international investors have made massive long term investments in the Alberta tar sands.  Obama’s intransigence has left Alberta so impoverished that it is unable to pay its bills.  The province is forced to go begging while Saudis drive Bentleys.

I for one hope that we can develop a Canadian market or find markets elsewhere in the world for our giant supply of oil.  Americans will learn soon enough that fracking is a short term solution to a long term problem.