Canadian Prime Minister Stephen Harper’s frustration with U.S. President Barack Obama’s failure to approve the Keystone XL pipeline may make this installment of the North America summit, known as the “Three Amigos,” the frostiest since the annual meetings began almost a decade ago.
At the one-day meeting tomorrow in Toluca, Mexico, with Mexican President Enrique Pena Nieto and Harper, Obama is bringing an agenda focused on trade, education, border security and stopping drug trafficking. Yet 20 years after the North American Free Trade Agreement took effect, the U.S. and Canada are at loggerheads over a $5.4 billion collaboration that would carry oil south from the thick sands of Alberta to American refineries along the Gulf Coast of Texas and Louisiana.
Hey, Canada has the oil, and will sell it.
Rather than re-debate NAFTA, Obama is expected to press Mexican President Enrique Pena Nieto and Canadian Prime Minister Stephen Harper to speak with one voice as they negotiate the Trans-Pacific Partnership, a proposed trade bloc that includes 12 countries around the Pacific Rim.
Comment from prior post:
In the 1980′s Reagan had Saudi Arabia increase oil production to drop the price and hurt the USSR’s cash cow. Why can’t we allow Keystone XL to be completed to kill Venezuela’s cash cow? Canadian heavy blend and Venezuelan crudes are all the same type of crude oil which are used by several very major Gulf Coast refineries. Other crude oils cannot economically replace them.