The Oil Drum

North American integration is making the news again on both sides of the border, and on the other side of the Atlantic. Meanwhile, another large Canadian company - Alcan - becomes the subject of a takeover some describe as a symptom of Canadian economic suicide. The natural gas drilling crash affects Baker Hughes, the Chinese feel unwelcome in the Alberta oil patch and concerns are raised over the safety of LNG terminals in Québec.

In the US the subprime credit market problems are beginning to snowball, while the folly of relying on sophisticated risk analysis models based on the 'data' from 'liar's loans' becomes apparent. Wall Street's ability to value assets is called into question, the lawyers begin to get in on the act and the US tries to sell mortgaged-backed securities to China.

How cosy do we want to be with the Americans?

Prime Minister Stephen Harper will be meeting in Montebello, Que., with U.S. President George W. Bush and Mexican President Felipe Calderón on Aug. 20 and 21.

These meetings seem to be kept deliberately low-profile. Do we, as Canadians, really want to continue down the road toward deep integration with the United States with regard to our resources?

In March 2005, Paul Martin, Vicente Fox and Bush met in Waco, Tex., to ratify the Security and Prosperity Partnership of North America (SPP). The SPP takes NAFTA's goal of continental economic integration much further by including security and foreign policy issues, and by speeding up the process of regulatory harmonization integral to the first Canada-U.S. Free Trade Agreement.

All this has been done quietly, resulting in a lack of public awareness or input. It should also be noted that all three North American governments seem to be moving quickly toward a continental resource pact, a North American security perimeter, and common agricultural and other polices related to our health and environment. To date, the public has been neither informed or consulted.

We should ask our members of parliament their position on these very important meetings, and when public input will be initiated.

This is our country. Let's keep it strong and free.

Elizabeth Eidt, Stratford