Saturday, March 01, 2008

Be careful what you ask for, you just might get it

The democratic candidates' alma maters, Wellesley, Yale, Columbia and Harvard are fine institutions, but some lessons - like the old adage "Be careful what you ask for, you just might get it" - don't appear to be on the curriculum:
Financial Times: Candidates' Nafta stance stirs Canada:

Canada has warned that the US's privileged access to its oil and natural gas could be in jeopardy if a Democratic administration backtracks on the North American Free Trade Agreement.

Canada is the US's biggest foreign oil supplier, exporting close to 1.8m barrels a day - more than 10 per cent of US consumption. Nafta provisions make it difficult for Canada to restrict oil shipments to the US.

"If Nafta is ripped up then the Chinese can buy more of our oil; there's no further obligation on the part of Canada to sell its oil to the US," a Canadian diplomat told the Financial Times.

He was responding to statements this week by Barack Obama and Hillary Clinton, the two Democratic presidential hopefuls, that they would be prepared to pull out of Nafta it was not renegotiated.

"We will opt out of Nafta unless we renegotiate it and we renegotiate on terms that are favourable to all of America," Mrs Clinton said in her debate with Mr Obama in Ohio...
Update: Washington Post Editorial: At Best, a Pander


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