Who'll benefit from the oil sands energy wars?

There is a lot of talk about how the Canadian oil sands could save the US from its looming energy crisis, but the situation is far from straightforward. Garry White reports on the forthcoming three-way resource war.

America's economy is a mess and the dollar is likely to weaken more. This means that soaring oil prices will hit us in Europe slightly softer than across the Atlantic.

Of course the currency cushion that we experience here in the UK is not going to protect us from soaring energy prices, but it will be much worse in the US. There is lots of talk that the Alberta oil sands will save the day but there is much to resolve before it comes clear whether this is the case. The oil sands story is valid and economically sound; but the question for America is where that oil will end up.

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