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© St. Petersburg Times, published December 23, 2001
The United States wants Canada to help meet its growing demand for oil, natural gas and electricity, Ambassador Paul Cellucci said.
Americans had been focused on ensuring greater access to Canada's energy -- but are more so after the terrorist attacks, Cellucci told the Canadian Press newswire.
Instead of relying largely on supplies from the Mideast, there's a new urgency to forge tighter energy links with its neighbor and key trading partner, he said.
"We see Canadian sources of energy as reliable," Cellucci said.
There has been some concern in Canadian quarters since last spring when President Bush proposed a more integrated continental energy market. Some critics suggest Washington might be trying to gain control over Canada's resource policies, even though oil, gas and electricity flow freely over the border.
Producers, however, aren't too concerned over the thought of a big customer with a growing appetite. They supply 10 percent of America's oil and 15 percent of its natural gas.
Lower energy prices are being credited for a big drop in Canada's inflation rate.
Statistics Canada said the November rate was 0.7 percent, down from 1.9 percent a month earlier. An indicator that the economy has slowed, it sets the stage for more interest rate cuts.
It was the biggest monthly drop since 1959. Economist Doug Porter of BMO Nesbitt Burns called it a "real jaw-dropper."
Energy costs fell overall by 12.5 percent in November compared with a year ago while gasoline prices were down almost 20 percent and natural gas, 15.5 percent. Hotel rooms, vehicles and clothing prices also dropped sharply.
After an embarrassing incident at a men's shelter in Edmonton, Alberta Premier Ralph Klein says he wants to give up alcohol. "I do know I have a problem, and I do know I'm going to deal with it," he said after he got into an argument. He shouted and swore at several homeless men, asking them why they didn't have jobs.
The decision by CanWest Global Communications to require its major newspapers to run editorials written or assigned at corporate headquarters is being challenged by the Quebec government. Members of the Quebec Legislature sided with Montreal Gazette employees who think regional identities and the diversity of news are being compromised by the coast-to-coast editorials.
Canada's dollar is retreating, down to 63.35 cents U.S. while the U.S. greenback returns $1.5785 Canadian before bank exchange fees.
There's no change in the Bank of Canada key interest rate of 2.25 percent while the prime lending rate is 4 percent.
Stock markets were mixed, with the Toronto Exchange 300 index at 7,462 points and the Canadian Venture Exchange at 974 points.
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