China, Canada and Petroleum

Paper Summary:

The paper discusses China's interest in investing in the extraction of oil products from Canada's tar sands. The paper also looks at China's energy needs and how their needs affect the Canadian energy industry. The paper then shows how Canada's petroleum exports are a windfall of unexpected revenues. The paper points out, however, that the price for Canada is a partial sacrifice of industry and perhaps even national sovereignty to China's foreign ownership and investment.

Outline:
Summary Proposal
China's Energy Needs
Canadian Energy Industry
The Economics of China's Investment
Canadian Economic Aspects
Conclusion

From the Paper:

"Canada is stated to own some of the second largest oil reserves in the world after Saudi Arabia. These are the tar sands in Western Canada which have been receiving much international interest as well as local interest (Unlocking). Yet, the extent of these oil fields are almost completely limited to vast oil sand fields in Alberta Province of Western Canada ("Canada"). Because of the extremely difficult and expensive nature of recovering and refining these types of oil supplies, Canada, and by extension, the Canadian economy has not benefited greatly from the existence of these oil reserves in the past. This situation has changed over the past several years with the increase in oil prices and the destabilization of the petroleum industry in general which has led to much interest from foreign entities interested in investing in the extraction of oil products from these tar sands with China or Chinese entities being one of the major interested parties."

Sample of Sources Used:

• "Are Booms and Depressions Transmitted Internationally through Monetary Standards?." Journal of Money, Credit & Banking 35.1 (2003): 62+.
• Baillie, A. Charles. "15-Year Plan to Make Canada the Economic Growth Leader." Canadian Speeches Mar.-Apr. 2001: 44-9.
• "Canada to Compete in Oil Market." Forbes, 02/17/05 (online). May 24, 2007<http://www.forbes.com/energy/ 2005/02/17/ cz_0217oxan_canadaoil.html>.
• "Chapter I: Economic Prospects and Policy Issues." World Economic Outlook : 40+.
• Chinn, Menzie D., and Guy Meredith. "Monetary Policy and Long-Horizon Uncovered Interest Parity." IMF Staff Papers 51.3 (2004): 409+.

More papers on China, Canada and Petroleum:

• Research Paper # 88326 : "The Canadian Dollar-China, Oil and Value"
• Business Plan # 88359 : "Petro-Canada Analysis"
• Research Paper # 99536 : "Canada's Impact On International Business"

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