On the same day the Obama Administration put the kibosh on the Keystone XL pipeline, two engineering contracts totaling $12.2 billion were awarded to two U.S. companies for work in the Alberta oil sands. One included a $750 million contract to a Chicago-based company for work on Exxon’s huge Kearl Oil Sands project, one of [...]
With France and China already plotting to replace the US dollar as the world’s reserve currency at the next G20 summit in Cannes, don’t count on this international forum’s lasting too much longer. The huge fiscal divisions that were already in evidence at the G20 summit in Toronto last June morphed into even bigger and [...]
No matter what their organizers and participants want us to believe, economic summits aren’t the remedy for an increasingly dysfunctional global economy. President Obama’s call for countries other than the US to carry more of the burden of sustaining world economic growth is likely to fall on deaf ears, just as Europe’s call for massive [...]