Many Canadians are frustrated by the fact that China
recently got approval to invest $18 billion in Alberta’s valuable oil sand
stakes, this may seem like a lot of money to invest on a singular resource but
in the long run China will be profiting on a mass scale from the consumption of
Alberta’s oil sands. What angers many Canadians even more is that the $18
billion in stakes that has already been invested by the Chinese will almost
double in value if, and likely when, Prime minister Stephen Harper approves the
sale of Nexen Inc. to China’s state-owned oil company CNOOC. Another
aggravating piece of information is that the same Chinese state-owned company
is showing interest in investing in Saskatchewan’s potash industry; these mines
also tempt India to invest. Stephen Harper is clearly looking around the globe
for trade opportunities to strengthen the Canadian economy but in return he is
only finding other nations who want to physically come into the country and
extract our resources and then later on use these resources to profit on a
extremely large scale (almost doubling their spending costs).
Personally, I strongly disagree with Stephen harpers
decisions, as well as most Canadians. I understand that he is trying to
strengthen the economy and this idea will most likely help at the present since
he is acquiring a quick easy $18 billion. However, in the long run this
decision will mostly be benefiting China because they will be the ones who are
almost doubling their spending money and they will be the ones who will have
control of large portions of our oil sands. Not only will we not have control
of this resource in the future but we will also be strongly supporting China in
overpowering our own industry!
Don Martin, Power Play Host
Published Friday, Nov. 2, 2012
5:55PM EDT
http://www.ctvnews.ca/ctv-news-channel/power-play-with-don-martin/china-s-investment-in-oilsands-a-political-migraine-for-harper-1.1022570
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