Prime Minister Stephen Harper is seeking to counter opposition to TransCanada Corp.’s Keystone XL pipeline, a project crucial for boosting Canada’s economy and Harper’s plans to make the country an energy superpower to rival Saudi Arabia.
As the U.S. sets records for natural gas production, the specter of shortages and surging prices has been replaced by a debate over how much to sell overseas. The bounty has fueled speculation President Barack Obama is ready to expand exports.
The booming stock market is of little solace to middle-class Americans, who continue to express concern about their financial security and the overall condition of the U.S. economy. The poor are even more bearish, surveys show.
Federal Reserve Bank of Richmond President Jeffrey Lacker said broker-dealer units of banks should have higher capital requirements than deposit-funded subsidiaries because the financial crisis demonstrated the risks that stem from a reliance on markets for financing.
President Barack Obama’s suggestion last weekend that he may favor greater U.S. exports of liquefied natural gas is a welcome sign. More exports would spur more domestic production and help balance U.S. trade.
President Barack Obama is being pressed by opponents of the Keystone XL pipeline to tie any approval to measures that would curb climate change, reflecting mounting pressure on the administration to mitigate the project’s impact if it goes forward.