Canada to sell British Columbia to US government

By: ispeculatornew
Date posted: 04.01.2009 (12:00 am) | Write a Comment  (10 Comments)

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north_america_mapWe usually do not get involved in politics too much but considering the impact this could have, a post was necessary. There had been whispers for a few months although generally it did not make it into the mainstream media. It is no secret that Canada had grown more and more dependant on oil over the past decade. Last fall, the Canadian government almost collapsed as the Stephen Harper government refused to discuss publicly the problem.

A Canadian official described the ongoing crisis: “The Harper administration got into important trouble through some commitments as they made the Federal government budget planning for oil at 120$. Turns out, the current debacle is taking its toll and several senior members are worried that the market will start pricing in possible default on the long term bonds.” That has left the Harper government no choice but to go through drastic measures. Many options had been considered including selling the highly strategic northern territories that are increasingly becoming disputed as the global warnings enhances its potential both in terms of commercial navigation as well as for oil and mineral extraction. But in the end, the decision was made that selling British Columbia had more upside in both its relationship with the United States as well as for the economic and environmental objectives of Canada.

No doubt, the Canadian government is feeling the heat, and seeing an opportunity to get the problem settled. The UK is currently under the spotlight as the G7 country that is perhaps under the most severe economic problems but Canada has crucial problems of its own to face. Fact is, the US government has been looking into getting oil from Alaska back to the continental US without needing to go under the Pacific Ocean. The Bush administration had been looking into various options. When British Columbia started causing issues in Canada because of their environmental concerns, it became apparent that British Columbia would be causing problems and so the Canadian government, before losing the province to a separation, started talks of selling the land (as it had done with Alaska several decades ago).  With Quebec, British Columbia is the biggest believer in a green Canada and believes all the costs associated with this solution are merely something that needs to be done.

A senior Obama member said: “The deal is nearly done but we are not to discuss it or move in any way on the deal before the end of 2010 as the Canadian government does not want to have the world’s eyes on this sale during the upcoming 2010 Vancouver Olympics.”  There are many other conditions to the deal including Obama stopping any initiatives to renegotiate NAFTA (North American Free Trade Agreement), something that had been raised during the elections and which had caused Canadians to be very worried about the possible impact of losing a lot of ground with its most important commercial partner. Looks like instead, trade between the countries could increase.

In fact, the US is already looking into having oil from Alberta transit through the British Columbia pipeline thus increasing the trade between the two countries by an important margin. But this whole story brings up a lot of new questions.. we clearly did not know about these plans until a few hours ago and are now wondering what else the Canadian government is hiding and if this could affect the unity and even existance of the country?

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10 Comments

  1. Comment by Frank — April 1, 2009 @ 7:32 am

    I totally disagree with the idea. I lost confidence in the power hungry Harper administration for a while. I can not believe they come up with this idea…

  2. Comment by Zavi — April 1, 2009 @ 7:45 am

    Shouldn’t the green supporters respond to that? They have to speak up towards the Canadian government in order to stop that! It would be an error!!! Even a disaster!!!

  3. Comment by Dividend Growth Investor — April 1, 2009 @ 2:34 pm

    Happy April Fool’s day to you too!

    DGI

  4. Comment by Zavi — April 2, 2009 @ 2:25 pm

    hahaha caught by huge April Fool joke 😉 Nice! Tks IS!

  5. Comment by IS — April 3, 2009 @ 5:09 am

    Tks:) Yep, that was a little April Fool’s joke:)

  6. […] Canada is selling British Columbia […]

  7. […] The Intelligent Speculator claims that Canada sold British Columbia to the USA! […]

  8. Comment by tyson — April 29, 2009 @ 4:50 pm

    Are you serious? Let me get this straight, Canada, the G7 country in the best financial position, who has run multi billion dollar budget surpluses for a decade, who’s dollar has gained in value and will continue to do so, who holds the world’s biggest supply of fresh water, 2nd largest deposits of oil, along with uranium, coal, huge reserves of farmland, potash, natural gas, whose still profitable banks are buying US assest at pennies on the dollar, who doesnt have the long term budget/health care problems of wither the EU or the US, the country who economists/scientists have said will benefit most from global warming (cold canada will get longer growing seasons while US water problems in California, Arizona will only get worse, and by the way, you will buy your water from Canada, its either us or tthe Russians) is going to sell a valuable and beautiful province like BC to the US. Are you joking? If anything the US looks more likely to break up and we may pic up some of the non redneck states (washington, oregon) which are far closer culturally to Canada then most of the US. Where will the US get the money? By printing it or borrowing it from China, which will only cause the Canadian dollar to rise and the deal to become less likely.

  9. Comment by slg — May 1, 2009 @ 8:18 am

    Um, tyson, you might want to check the date on the piece…

  10. Pingback by Blame Canada! « — May 6, 2009 @ 9:03 am

    […] Canada to sell British Columbia to US government   […]

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