Canada’s $867 million in aid to lumber industry riles U.S. producers

The federal government crafted its $867-million assistance plan for Canada’s forest sector to avoid the appearance of subsidy to its U.S. opponents in the softwood lumber dispute, but it has already annoyed the main American lobby group. Natural Resources Minister Jim Carr unveiled on Thursday expanded loan guarantees, financing support and employment-insurance extensions to lessen the reduce of expected job losses caused by punishing duties attached to Canadian softwood exports to the U.S. starting at the end of April. Carr characterized the portfolio of aid as “our pledge to take swift and reasonable action to defend our softwood lumber industry and charts a stronger future,” for workers and communities that… Read More

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‘Axis of love’: Saudi-Russia detente heralds new oil order

MOSCOW: A meeting between the two men who run Russia and Saudi Arabia´s oil empires spoke volumes about the new relationship between the energy superpowers. It was the first time that Rosneft boss Igor Sechin and Saudi Aramco chief Amin Nasser had held a formal, scheduled meeting – going beyond the numerous times they had simply encountered each other at oil events around the world. Their conversation also broke new ground, according to two sources familiar with the talks in the Saudi city of Dhahran last week who said the CEOs discussed possible ways of cooperating in Asia, such as Indonesia and India, as well as in other markets. The… Read More

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