Cannot view .CR2 or .RAW files

[ClemTiger0408]

I recently purchased a Canon XS DSLR. When I shoot in RAW and transfer to Lion the thumbnail appears to look correct. However, when I open with Preview all I see is a mostly grey screen. I cannot figure this out. Anyone know what to try?

 

[brand]

FWIW the CR2 images from my Canon T2I render correctly in the Preview.app.