Obama to sign shale gas deal with India, Canada misses out

 shale Pictures, Images and Photos

President Obama is beginning a trip to India and neighbouring countries this week and although this is not official yet, it appears that one of the items on the agenda is to sign a shale gas deal with India. Shale gas is a form of gas that is used for fuel which comes from shale rock. Canada happens to be among the global leaders in this field and is even ahead of the U.S. This deal will involve U.S. companies supporting the development of the shale gas industry in India and is likely worth a good chunk of change, otherwise the President wouldn’t bother putting it on his agenda.

For Canada, this represents a missed opportunity. This is one of the areas where Canada is ahead of the U.S. and possibly the entire world and therefore, should be the go to country to sign this type of deal with. Canada has more experienced companies in this industry and are more actively operating in it. Since the size and scope of this deal is so big, it requires more than just large companies. It requires support and help from the government, so it would be unfair to blame any Canadian companies for not signing this deal first. The blame for Canada must lie with the federal government. They should have been the ones to pursue this deal and should have been going to sign with India instead of President Obama.

For the U.S. this is a very good deal. It’s another step in the right direction to increase their global exports and will create new management jobs at home. The President can use a good business deal on this trip as there has been criticism that his India trip is costing tax payers too much money. Apparently, much of that buzz is actually incorrect and instead the cost of the trip is about average, but that’s beside the point. The U.S. did well here and Canada should learn from this missed opportunity and not make a similar mistake in the future.