Unlike the Obama Administration, the Canadians Understand the Energy Sector

Posted by PITHOCRATES - November 5th, 2011

Week in Review

The Obama economic policies are a failure.  Everyone knows this.  Even the Canadians (See Energy sector powers Canadian economy by John Morrissy, Financial Post, posted 10/31/2011 on The Vancouver Sun).

Canada’s economy expanded for the third straight month in August, driven by a rebound in the energy sector and raising expectations for solid growth in the third quarter…

The August data “suggest that the underlying trend in growth is still strong, as the economy appears to have shrugged off dents to confidence stemming from eurozone fiscal jitters, a U.S. ratings downgrade and equity market volatility,” said CIBC World Markets economist Emanuella Enenajor…

If not for the energy sector’s 2.8 per cent advance, GDP for the month of August was unchanged, Statistics Canada reported.

If it wasn’t for energy there would have been no GDP growth.  In other words, if it wasn’t for the energy sector GDP would be as anemic as it is in the U.S.  Because unlike the Americans, the Canadians haven’t declared war on energy.  Oil isn’t a 4-letter word in Canada.  Like it is in America.  Under the Obama administration.

If only we were as capitalistic as Canada we, too, could expand our energy industry to meet record demand.  But no.  Instead the Obama administration wants to finance windmills and solar panels.  Where there is no demand.  Why?  Politics.  And in the Obama administration, politics trumps the economy every time.



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