Canada Pledges to Sell Oil to Asia After Obama Rejects Keystone Pipeline
By Theophilos Argitis and Jeremy Van Loon
Obama’s Keystone Denial Prompts Canada to Look to China
Canadian Prime Minister Stephen Harper expressed disappointment with President Barack Obama's decision to reject a permit for TransCanada's Keystone XL pipeline. Photo: Pete Marovich/Getty Images
Canadian Prime Minister Stephen Harper expressed disappointment with President Barack Obama's decision to reject a permit for TransCanada's Keystone XL pipeline. Photo: Pete Marovich/Getty Images
President Barack Obama’s decision yesterday to reject a permit for TransCanada Corp.’s Keystone XL oil pipeline may prompt Canada to turn to China for oil exports.
Prime Minister Stephen Harper, in a telephone call yesterday, told Obama “Canada will continue to work to diversify its energy exports,” according to details provided by Harper’s office. Canadian Natural Resource Minister Joe Oliver said relying less on the U.S. would help strengthen the country’s “financial security.”
The “decision by the Obama administration underlines the importance of diversifying and expanding our markets, including the growing Asian market,” Oliver told reporters in Ottawa.
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