Canada becomes China’s gas pump

China gains control of Canada's energy, revenue, and environment policies in three moves.

from the Alberta Federation of Labour

Chinese-Canadian business relations are being redefined, as we cede decision-making power about our natural resources to state-owned foreign businesses. These businesses are not bound by market pressures and will not act in the best interests of Canadians.

Over the past year, three major events have dominated the headlines on Canadian business pages. Each of these stories is part of a larger picture in which Canada’s national interests are being subverted, and the country’s strategic energy assets are being taken over. From exploration and production to transportation and marketing, control of the oil sands is being ceded to state-owned foreign companies.

These three stories — or three steps to Canadians losing any control over tarsands oil — are:

• the Nexen sale to CNOOC;
• the Canada-China Foreing Investment Protection Agreement (FIPA);
• the Northern Gateway pipeline.

The China National Offshore Oil Corporation (CNOOC) takeover of Nexen gives a Chinese state-owned oil company marketing control over several hundred thousand barrels per day of oil sands bitumen. Marketing control gives CNOOC power over the price – which means we are handing over control of Alberta’s most important source of royalty revenue to a state-owned enterprise.

At the behest of funding partners that are backed by Chinese state-owned oil companies, the Northern Gateway Pipeline locks in a future where Alberta’s resources leave the country in their rawest form possible. This will ship good paying jobs to China.

• Good jobs in the oil sands;
• Building a value?added industry around our energy resources;
• Fostering connections between Alberta’s resources and refineries in the rest of Canada;
• Canadian energy security;
• Environmental responsibility;
• The ability to pace development or charge appropriate royalties;
• The national interest.