Tar-sands supporters in Congress will find it hard to tune out the fossil-fuel interests that want to see Canada's oil sands mined to the utmost. After all, the biggest foreign lease holder in Canada's oil sands is none other than the Koch brothers. But we'll cross that bridge when we come to it. For now it's up to President Obama to do the right thing.
Even with all the shouting between sides, we're still not discussing the real issue: The US has no comprehensive energy policy, and we stumble, under the terrible lack of leadership in Washington, from crisis to crisis with little effort to reduce our overall demand for heavy hydrocarbons such as crude and coal.
If beaten-up Canadian investors are looking to assign blame for the bruising suffered by their portfolios of late, they could do worse than point an accusatory finger at China. The resource super-cycle that drove valuations so much higher over the last decade is now hobbling along at a snail's pace and China is a big part of the reason why.