The Rising Influence of Rising Affluence

[Timothy Smith]

$TRP - Canadian Prime Minister-elect Justin Trudeau says he wants to work with the U.S. on TransCanada's (TRP +0.1%) Keystone XL oil pipeline and climate change talks after speaking with Pres. Obama following his party's big victory in the federal election, WSJ reports.

Trudeau says the relationship between Canada and the U.S. has been "focused on a single point of disagreement," referring to Keystone XL. “Canada could have taken a different tack towards issues on energy and environment over the past 10 years, and that’s what I’m focused on now.”

The new government’s more aggressive stance on clean energy could weigh on Canadian oil stocks, but yesterday's market reaction to the Liberal victory was hopeful.

http://www.wsj.com/articles/trudeau-aims-to-bolster-ties-to-u-s-1445388117