The Winnipeg Free Press reported that Canadian Prime Minister Stephen Harper warned Obama the U.S. will have to pay market prices for its Canadian oil after Obama's de facto veto of the Keystone XL pipeline. Canada is preparing to sell its oil to China.Secretary Chu is getting his wish, Americans are going to have to pay much higher prices for gas because of this administration.
Until now, NAFTA had shielded the U.S. from having to pay global prices for Canadian oil. That's about to change.
The article at IBD also mentioned how this isn't getting reported in the media. Actually, the summit was said to be a disaster. Instead, we hear things like how Obama is so smart and how Palin is so stupid and the like.
If there's any evidence of incompetence and stupidity, especially on energy issues, there is no need to look further than the guy in the White House.
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