Obama signals new reliance on oil sands
The following is excerpted from the 31 March 2011 edition of "globeandmail.com".
President Barack Obama wants to slash U.S. oil imports by a third in the next decade, a commitment that would shrink Canada’s only existing market for crude exports.
But Western Canadian oil producers can take some comfort in the fact that Mr. Obama has singled out his northern neighbour as a secure and reliable source of crude. By doing so, the President signalled that even as the United States tries to reduce its appetite for oil from the Middle East or Venezuela, it will rely on growing production from Canada’s oil sands...
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