CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Reuters reports European Union proposals to rank Canadian oil sands as dirtier than conventional fuel can probably be defended if Ottawa challenges the move at the World Trade Organization (WTO) according to legal advisers to the EU’s executive.
The statement comes a day after environmentalists hurled accusations and interrupted a speech by Canada’s resources minister, who was on tour to persuade Britain not to join the EU oil sands initiative.
The government of Alberta has written to EU experts voicing “grave concerns” that the bloc’s plans are unfair and a potential threat to trade ties. An EU energy panel is to meet on Tuesday to debate a proposed green ranking of fuels. Royal Dutch Shell and France’s Total are the top European investors in the oil sands.
Reuters reports the EU Commission letter said legal advice showed the proposal is science-based and non-discriminatory, but that even if WTO authorities disagreed, it would claim a derogation under global trade rules designed to conserve finite natural resources to defend the plan.
The Wall Street Journal reports Canadian Natural Resources Minister Joe Oliver said Friday that he’s “cautiously optimistic” of securing enough European support against the proposed law. Reuters reports environmental campaigners from People and Planet gave Oliver a hard time on Thursday as he spoke at the London School of Economics.
Vancouver Sun quotes trade ministry spokesman: “While we disagree with this draft directive, this matter is not linked to our commitment to productive free trade discussions with the European Union.”
Comments
C.B.
I’m a Canadian and I completly support the European position.