Showing posts with label Free Trade. Show all posts
Showing posts with label Free Trade. Show all posts

December 23, 2010

Tories to Announce Deal Forming North America 'Perimeter'



John Ivison, National Post · Wednesday, Dec. 8, 2010

Already signed by The US and Mexico in March 2010, this bill will be signed by the US and Canada in January 2011. New name, same game... Welcome to the NAU boys.

The Conservative government is set to announce a landmark security and trade deal with the United States, designed to create a perimeter around North America and allow people and goods to flow more freely across the border.

Sources suggested that Prime Minister Stephen Harper and President Barack Obama will sign the broad-ranging agreement in Washington as early as next month.

“It’s big on ideals but maybe not so great on details,” said one person familiar with the negotiations. “But it does use the word ‘perimeter’ many times...The question is, will it reduce the compliance burden at the Canada-U.S. border?”

The New Border Vision is being billed as a 21st century border management system that will include new common consumer product regulations, a pre-clearance agreement for goods crossing the border to expedite waiting times and the use of advanced technology to utilize biometric data for travelers at airports and land crossings, according to people familiar with the plan.

The new framework will likely be discussed when the U.S. Secretary of State, Hillary Clinton, visits Ottawa this Monday but government sources said the announcement will not be made by Ms. Clinton. A spokesman for the Public Safety Minister, Vic Toews, said: “No such announcement is planned. We don’t comment on hearsay or speculation.” A spokeswoman for the U.S. Embassy in Ottawa refused to comment.

Colin Robertson, a senior research fellow with the Canadian Defence and Foreign Affairs Institute, said the agreement is an attempt by the Canadian government to link security to improved access to the U.S. for Canadians.

“‘Perimeter’ is a vital word because back in the Chrétien government days we couldn’t use it because we would get caught up in the sovereignty allergy we too often have,” he said. “It makes a lot of sense.”

The U.S. announced a similar deal with Mexico in March. It included moves to expedite travel and commerce such as secure transit lanes for pre-cleared rail and truck shipments, as well as passenger pre-clearance for individuals.

Business is likely to welcome a more coordinated perimeter approach to regulation and security but one exporter remained skeptical. “A vision without money is a hallucination,” he said.

The U.S. and Canada have taken piecemeal steps to coordinate their efforts against common threats like terrorism. Last year, Canada signed on to the NEXUS membership card and Free and Secure Trade (FAST) trusted traveller programs as a valid means of identification at the border. However, more sweeping agreements have foundered in the past, notably the Security and Prosperity Partnership agreement signed in 2005 by former Prime Minister Paul Martin, ex-U.S. President George W. Bush and former Mexican President Vicente Fox.

The SPP was aimed at reducing the cost of trade and improving the flow of people and information but became a lightning rod for criticism on both sides of the border. In the U.S., CNN anchor Lou Dobbs argued the SPP was part of a plan to merge the U.S., Canada and Mexico into a North American Union, while a number of organizations criticized the agreement for its secrecy.

In Canada, NDP leader Jack Layton said the process was not just unconstitutional but “non-constitutional” because there were no oversight mechanisms. By 2009, all three governments had abandoned the SPP, which is “no longer an active initiative,” according to its website.

Mr. Robertson said that increased integration could impact areas like immigration and refugee policy but was unlikely to lead to a European Union-style agreement. “Economic union would mean a common currency and, over the last couple of years, it has been definitively proven that we are far better off with our own currency,” he said.


Read more: http://www.nationalpost.com/news/Tories+announce+deal+forming+North+America+perimeter/3947584/story.html#ixzz18uNcrbc3

April 04, 2008

Venezuela 'to tax oil windfall'


Venezuela is planning a windfall tax on what it calls "excessive" profits of energy firms to allow state revenues to benefit from high oil prices.

The tax will take 50% of oil revenues above $70 per barrel, and an additional 60% of revenues over $100 per barrel, legislator Angel Rodriguez said.

He told state news agency ABN that oil firms had surpassed "reasonable levels of profitability".

The move will affect foreign oil firms operating in Venezuela such as Chevron.

Oil is currently trading above $104 per barrel.

'Excessive earnings'

The proposed tax comes months after President Hugo Chavez's nationalisation drive forced out two of the world's largest energy companies - Exxon Mobil Corp and Conoco Phillips.

Exxon is seeking $12 billion in compensation from Venezuela after its oilfields were nationalized last year.

The tax will also apply to state oil company PDVSA, which now controls all of Venezuela's oilfields.

"Because of high oil prices, oil companies have excessive earnings that go beyond reasonable levels of profitability," Mr Rodriguez was quoted by Reuters as telling state news agency ABN.

"One way to distribute them to our people, who are the owners of the oil, is to create this tax."

Mr Rodriguez said the measure would get initial approval from the country's Congress this week.

Venezuela diverts Exxon oil to China


Venezuela is sending to China all the oil it previously shipped to a US refinery jointly owned with Exxon Mobil amid a legal battle between the OPEC nation and the US oil giant, Energy Minister Rafael Ramirez said on Friday.

''With respect to the shipments, we put them at China's disposal,'' Ramirez told reporters. ''All of it.''

Exxon and Venezuela have been in dispute over supplies to the Louisiana-based Chalmette refinery since Exxon won court orders freezing $US12 billion in Venezuelan assets as part of a legal battle over compensation for Exxon assets Venezuela nationalized in 2007.

State oil company PDVSA halted supplies to Chalmette, a 50-50 joint venture that can process about 193,000 barrels per day of crude, after Exxon began rejecting some of the cargoes that Venezuela destined for the refinery.

Ramirez said PDVSA rerouted the supplies in protest, which he said were meant to pressure Venezuela as part of an international arbitration over the 2007 nationaliSation of the Cerro Negro heavy oil project that Exxon once ran.

Exxon wants at least $US 5 billion in compensation, though PDVSA says it is due less than $US 1 billion.

A London court this month lifted one of the freeze orders, though Exxon still has similar injunctions in Netherlands and Netherlands Antilles courts.

Venezuelan President Hugo Chavez is keen to export more oil to Asia to reduce traditional dependence on United States energy markets.