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Canada Pledges to Sell Oil to Asia After Obama Keystone Denial

Canadian policy makers reacted to President Barack Obama’s decision to deny a pipeline permit to TransCanada Corp. by pledging to rely less on the U.S. for energy sales and export more oil to Asian markets.

Prime Minister Stephen Harper, in a telephone call today, told Obama “that Canada will continue to work to diversify its energy exports,” according to details of the call provided by Harper’s office. Canadian Natural Resource Minister Joe Oliver said relying less on the U.S. would help bolster the country’s “financial security.”