In the absence of any realistic alternative to replace the supremacy of the dollar, it is likely to remain the dominant global currency for many years to come. No other currency is more widely accepted or used.
At triple-digit prices, the tar sands will produce three to four million barrels per day. In turn, the tandem of soaring oil prices and soaring oil production will propel the Canadian dollar to heights it's never seen.
Going after China "aggressively" on its exchange rate policy would not be wise. It won't help address the job losses which have made this a hot issue, and it will strain relations with a major world power.