Friday, November 14, 2008

God hearts Canada

Brazilians are doubtless right that God loves them. After all, look at their beaches, women, and just recently, a ginormous petroleum discovery. Even after taking away the beaches and women, though, Canada can still lay claim to being God's BFF (notwithstanding Celine Dion).

Canada has about 13% of the world's proven petroleum reserves, much of it locked up in tar sands. In addition, Canada is one of the world's most stable nations. Put those two facts together and you have potentially the happiest of nations. The price of oil may be around $55/bbl at the moment, but it is sure to rise again. Demand will grow, while supply will continue to be restricted.

Canada's tar sands won't give up up their oil easily, though. Extracting the oil promises to be an environmetally messy affair, so expect plenty of delay before our neighbors to the north begin large scale development of this resource.

Here is a helpful primer on oil sands. An easy to follow explanation of the Canadian tar sands (including current limitations on exploiting them) is here.

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Thursday, November 06, 2008

Media begins to wake up from its lost weekend

The press is looking around and wondering just what it hath wrought. Climbing out of the tank, they note that Obama has no plans to leave Iraq precipitously, that Obamaniacs are kind of creepy, that Bush was poorly treated, and that Europe will benefit from increased US environmental regulation and capital flight (who wants to pay higher capital gains taxes when other markets beckon?). In addition, they finally got around to noticing that someone schooled in Chicago can play political hardball.

Well, they'll have four years to relearn their job before the next Republican administration.

And one more example of the MSM getting around to doing their job once the elections are over (links from Patterico): Obama's economic policies are maybe not so good or well thought out.

That must be some hangover the press are suffering collectively.

Also: WTF? China is asking that the US respect free trade! Certainly they are under no illusions about Obama's indebtedness to Labor or his protectionist instincts.

A couple of the links were stolen from Ace.

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