A New Era For Canadian Oil And Gas, For Better Or Worse

Canadian voters kicked out the conservative government in the October 19 election, a party that had been in power for a decade. Polls had predicted a slight lead for the Liberal Party, but in a surprise result, the Liberals actually won a majority of seats in parliament and will form a majority government. Most analysts had expected the Liberal Party would have had to form a coalition government, but many voters appeared to strategically vote for the frontrunner in order to ensure a loss for the conservatives. The new government of Prime Minister-designate Justin Trudeau will almost certainly be much less friendly to the oil and gas industry in Canada, though to what extent remains uncertain. Trudeau opposes Enbridge’s (NYSE: ENB) Northern Gateway Pipeline, but also backs TransCanada’s (NYSE: TRP) Keystone XL Pipeline – the latter of which could be blocked by the U.S. government. More will be known in the coming weeks. However, one clear promise from Trudeau was his plan to engage in deficit spending to goose the economy through higher investments in infrastructure.

How Did Canada's Middle Class Get So Rich?

America's coldest neighbors now have the highest-earning middle class in the world. They have their homes to thank for it. For now. 

 Derek Thompson

America's middle class has been richest in the world for decades, but as David Leonhardt and Kevin Quealy write in the Times' new site The Upshot, we've lost that distinction to our neighbors from the north.

Why the U.S. should merge with Canada

BY J. DANA STUSTER

Imagine, if you will, a moment in the not-too-distant future: A decades-long effort by Chinese companies to infiltrate Canadian banking and drilling firms has succeeded in securing Canada's oil and natural gas fields for pillage. At least some money from these deals trickles into Ottawa's coffers, which is more than the government can say for its oil in the Arctic, where Canada has been muscled out of its claims by extraction companies with the backing of the Russian government. A network of Chinese ports has secured the sea lines along the Northwest Passage, circumscribing Canadian sovereignty, and Canada's military, enfeebled after years of reliance on the United States, is powerless to resist. Canada effectively lapses into a vassal state, reliant on neocolonial patriarchs in Beijing and Moscow.

Islamist Nabbed in New York City Sting

A Bangladesh national was arrested by federal law enforcement officials in an elaborate sting operation that involved the suspect's alleged plot to bomb the Federal Reserve Bank in Lower Manhattan, New York City, a federal law enforcement said Wednesday.

Canada aware of two cyber attacks, won't say if China involved

Canada said it was aware of an attempt by hackers to target a domestic energy company, the second time in 24 hours Ottawa had acknowledged a cyber security attack against a Canadian firm.

In both cases the Canadian government declined to comment on reports which suggested a Chinese connection.

The news comes at an awkward time for Canada's Conservative government, which is deciding whether to approve a landmark $15.1 billion bid by China's CNOOC Ltd to take over Canadian oil producer Nexen Inc, Reuters reports.

Some Conservative legislators are wary of the proposed CNOOC takeover, in part because of what they say are China's unfair business practices.

Ottawa revealed the second case after being asked about a security report from computer manufacturer Dell Inc, which said it had tracked hackers who targeted a number of firms around the world, including an unnamed energy company in Canada. Dell said on its website that the hackers had used a Chinese service provider based in Beijing Province.