RE:RE:RE:Oil Patch in Cda has $24B shield against Trump tariffs:It's not Trump I'm worried about. Instead I'm worried on the damage Trudeau will impose on oil exports.
I would not be surprised that if Trump wages war on Ontario and Quebec manufacturing by levying tarrifs, Trudeau will impose taxes, restrict exports or impose 'extra safety measures' on transport of western energy. It's pretty much the only significant tool he has at his disposal.
Anything else he could do will only make him look like more feeble and incompetent.
Seppelt wrote: Midwest refineries rely 100% on its feedstock from western Canada. There are no pipelines left moving oil from the Gulf of Mexico north. The last, Capline was reversed more than 2 years ago.
Tariffs is a tax paid by importers and they will have no choice but pay and pass the cost to local consumers.
Gulf refineries have a choice from alternative suppliers such as the friends in Venezuela or OPEC, Iran included. Who else can ship medium/heavy crude. Most likely oil will be excluded, Trump knows it and may be bluffing when he said ALL products.
Trudeau doesn't care about oil, he is concerned about union jobs in the auto, steel and other industries. He is concerned about nothing but his image trying to show that he is relevant.