Fossil fuels oil-syria-canada

Published on September 1st, 2013 | by Jo Borras

10

If the US Bombs Syria, Canada Stands to Profit

oil-syria-canada

As I write this, warships are gathering in the Mediterranean sea and the Persian Gulf, ready to enter a civil war that’s been waging for years among Syria’s Sunni and Shiite Muslims. While the war has been going on for years, the conflict between the two groups has roots that go back much further, and it could be argued that the Office of the President of the United States – because of ties with Saudi Arabia, Qatar, and the UAE – has a vested interest in making sure the Sunnis win. One thing that’s beyond dispute, however, is that American boots and bombs in Syria means OPEC’s oil prices will go sky-high, and Canada will make a killing.

Already, oil futures are trading at a 2-year high, with Brent October futures are above $115 per barrel and West Texas Intermediate blend (WTI) hit $110 on speculation unrest in Syria will disrupt oil shipments and supplies in the Middle East. That’s a surge of over 27% since this year’s April low and the highest oil has been since May 2011, when several sources claim that price-fixing and price-gouging among the big American oil refineries began in earnest.

So, the big winners in a US strike on Syria seem to be (in no particular order), Sunni Muslim extremists/rebels (aka Al-Quaeda), Saudi Arabia/OPEC (who have been vocal in opposing the use of alternative fuels and electric vehicles in the US), and Canada, whose Albertan tar sand operations only really make fiscal sense when oil is over $100/bbl.

Canada’s tar sands, by the way, have been opposed by the Bishop Desmond Tutu and called “the worst natural disaster in history” by Greenpeace. Meanwhile, the Canadian government and the TransCanada company have been lobbying hard to get US approval to build a number of pipelines (including the Keystone XL) across the the US in a bid to export Canadian oil to emerging markets. A war in Syria would make those pipelines, and Alberta’s oil reserves, much, MUCH more valuable.

So, what’s Canada’s official stance on the war? According to CTV reports, Canada’s in!

Despite less than 9% of Americans supporting military strikes against Syria and the British parliament voting against UK action, Canada’s CTV station reports that Canadian Foreign Affairs Minister John Baird moved into uncharted territory today, opening the door for possible Canadian participation in a military strike against Syria. “We are of one mind,” he said, “that these weapons have been used and a firm response is needed.”

Baird reportedly outlined what a strike may look like, saying “quick, limited and conducted primarily with cruise missiles and drones, a war designed to fight an enemy who has access to powerful weaponry, including weapons of mass destruction, and has demonstrated a willingness to use them,” and claims that the conflict is Syria “appears to be primarily sectarian in nature”, which means he’s wither stupid, or thinks the Canadian people are stupid enough to buy into his bulls***. Either way, the US will have “full political support” from Canada in the event of a strike, which may be a valuable commodity in the absence of UN sanctioning.

Won’t that be nice?

 

Sources: CTV, Financial Post, RT, Washington Post.




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About the Author

I've been involved in motorsports and tuning since 1997, and write for a number of blogs in the Important Media network. You can find me on Twitter, Skype (jo.borras) or Google+.



  • UncleB

    Right on Jo! Our conservatives are U.S. republican boot lickers, corporate interest bum sniffers, paid off, gifted corporate stooges, seekers of guest status in resorts in the cayman islands, rich old moneyed Old boys clubbers, defensive right wingers, Oil Plutocracy jock strap supporters, creme de la creme socialites, sons and daughters of the Uber Rich Old school folk, and they would bomb before really working on humanitarian solutions, and the saddest part, the Official Opposition in our parliament today is the NDP – a Socialist Democratic Party! The mirror opposite to the ruling conservatives. The “other” parties just a bunch of confessed pot heads? Good thing Canada is such a small country and so willing to part with its resources for a living!

    • EdselFord

      So, what are you trying to say?

      • UncleB

        I mean: The Brown nosers will not win this one and are just paying homage to their fellow “Country Clubbers” with publicity like Baird spouts: as the Canadian population prepares in this next election to strip conservative brown noses of most of their powers, cancel their fancy government paid credit cards, sell off their government paid (private) jets, cancel their Chauffeur’s, get them out of interfering in other countries difficulties, cancel the F-35’s bullshit contracts, so they can concentrate on problems of the folks that elected them, and cut their monstrous wages down to Canadian sized wages. A big hit to the “wannabe American Statesmen form the conservative party for sure, but egomania in any proportion does not put better schools safer infrastructures, sane energy policies, more Medical care, free post secondary education on the table. Harper the arse hole said: ‘Do not commit “Sociology” to the voters most in need of it! Her will be taught a severe lesson for his frivolous treatment of the voting (mostly poor) masses in Canada.

      • AaronD12

        Don’t get UncleB started. ;)

  • Markwbrooks

    Come on Jo, you are conveniently forgetting a lot of other factors that are driving the price of Alberta’s crude into Tripple digit turf. Like the 15-20% price impact from phasing out Canadian tax payer funded oil sands subsidies, or the fact shotages of dilutent supplies are driving the price up, not to mention the rebound in natural gas prices ( it takes 2170 cu ft of NG to steam a barrel out of the ground, process it into synthetic crude and recycle the water etc. )

    Yet another war in the Mid East is certainly a huge factor in rising energy costs, but what’s new about that?

    • http://www.insteading.com/ Jo Borras

      What’s “new” is that I’ve never heard of a Canadian war-hawk before!

    • UncleB

      China has already offered Canada Thorium fuelled, safer, nuclear for the heat and energy needed for extraction – China wishes to purchase the natural gas saved this way, compress it, ship it to Eurasia Alliance countries for resale. America failed at thorium development, (www.theoildrum.com/node/4971) China has not, (www.youtube.com/watch?v=5UT2yYs5YJs
      Kun Chen from Chinese Academy of Sciences on China Thorium – Even with these economies, the Sino/Canadian Oil production will be sold, for even higher profits,by legitimate “Corporations” on world markets – no real benefit to an Oil hungry U.S.A.?

      • EdselFord

        I have some beachfront property to sell.

  • shecky vegas

    “Weapons of mass destruction”.
    Now, where have I heard that before?

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