Vermilion Energy Inc. T.VET

Trudeau plan to ban Russian Oil

[ronster65]

He is announcing right now in French.

[ronster65]

I called my MP and asked about this to confirm and my MP said that Canada has not taken in Russian oil for some time and Trudeau is only saying thi snow as a political stunt. We only bring in Oil from USA. (Maybe USA sells us Russian Oil) and this is all semantics??

[Pandora]

I believe we (back east) bring in a fair amount of Saudi oil and we sell upwards of 4 million barrels to the U.S. through pipelines other than the XL Pipeline such as Line 3 and Line 5??

[Quintessential1]

A complete embargo on Russian imports would be good. "Canada imported just C$289m (£170m) worth of energy products in 2021, according to Statistics Canada." https://www.bbc.com/news/business-60564781 GLTA Longs

[Pandora]

Also: https://www.canadianenergycentre.ca/foreign-oil-imports-to-canada-488-billion-between-1988-and-2020/

[Pandora]

"Between 1988 and 2020, Canada’s foreign crude oil imports in nominal dollars ranged from nil in Prince Edward Island and $200 million in British Columbia to $228 billion in Quebec where import values were the highest (see Figure 2a)." And would it be reasonable to assume that Quebec was using the equalization payments they received from Alberta to pay for their imports of foreign oil?

[hubertj]

BINGO!!!! You just hit upon the main West vs East sore point!!

[Pandora]

And while we are on the subject -- while Canada was paying the U.S. $8.8B for importing their crude oil Canada was also exporting oil to the U.S.: "There are 17 refineries in Canada that have a collective crude oil refining capacity of 2.0 million barrels per day (b/d). Canada is currently the largest supplier of oil to the U.S. In 2019, Canada exported more than 3.7 million b/d of oil

[blackace]

You're dead wrong.  In total, between 1988 and 2020, Canada spent $488 billion importing crude oil from such countries as Saudi Arabia, Iraq, Russia, Azerbaijan, Nigeria, Algeria, Angola, Venezuela, and Kazakhstan, as well as the United Kingdom, Norway and, more recently, the United States

[Oldnagger]

A statement not to buy Russian products is symbolic mostly, much as the Americans put a nix on Cuban cigars. Most of the Vodka people drink does not come from Russia and any Crude that ever came from Russia would have been of very limited volumes. The first victim in the event of war is always truth. For instance nat gas inventories in Europe versus the 5 year average have been rising for over a

[Oldnagger]

The one thing that has the best chance of working is the attack on Russia's central bank. This has already led to a run on the banks, that the Russian government will only be able to stem at a high cost in terms of interest rates and currency devaluation !! My main point remains, that even though It has been well known even before Trudeau was first elected that Russia had eyes on the Ukraine,

[Quintessential1]

Wow.  What a drama queen.  Which industries are weakened?  What lions?  Get a grip old man you're losing your sht again. We do not import that much Russian oil but what our embargo does is put other nations in the spotlight and on the hotseat.  It won't be long before the USA has to stop importing Russian oil which is sure to send WTI and accordingly VET up with

[baranja]

While Canada has oil to supply 5 Canadas, they imported it..  clown show.