Thursday, February 9, 2012

Canada And China Reach Deal on Oil And Uranium

Obama blocked the US from buying it by scudding the pipeline. Did anyone really believe that the Canadians would just not bother selling because we were not the buyers. This is a real strategic blunder by the Obama administration. Forget 'Smart Power' this was 'just don't say no and we win power' that the administration managed to botch.

"The development came as China and Canada declared Thursday that bilateral relations have reached "a new level" following a series of multibillion-dollar trade and business agreements to ship additional Canadian petroleum, uranium and other products to the Asian superpower.

The two countries have agreed that a joint economic study being conducted will be completed by May 2012, "after which Canada and China will proceed to exploratory discussions on deepening trade and economic relations."
Harper and the Chinese leadership said Thursday the economic co-operation agreements — and billions of dollars in new private-sector deals — signed by the two countries over the past few days are unprecedented and will open the door to additional trade and investment.

The new deals further solidify a "strategic" partnership between the countries, particularly in terms of natural resources, with China's top political leaders calling for "more large-scale co-operation" with Canada on oil and gas to feed China's seemingly insatiable energy appetite.

Harper announced Thursday, following meetings with Chinese President Hu Jintao and Vice-Premier Li Keqiang, that the countries have struck an agreement that will allow Canadian uranium companies to "substantially increase exports to China."

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