RE:TariffsDepends on what flavour of Koolaide he will have that morning adn whe the spin on the wheel of fortune gets LOL. But seriously this is complex and will take a few months to play out. Let's say 25% gets imposed that is about $15 based on the discounted Can crude. . With that $13 discount there is some room for importers to pay more maybe $3. The discount is there because it takes more to process heavy crude hence higher cost to refine it. But the US refiners will not be able to replace this quickly and will need to keep buying it. So I believe the remaining tariff difference will be split and maybe the Canadian producers will sell it at additional $5 discount. With Can $ now lower against the US this may not be a significant hit in the end. But Canada also has some small spare capacity for exports based on the new Trans Mountain pipeline. That will divert maybe 300K barels from US market. Also there is a possibility of Canada selling crude to foreigh customers even via US marine terminals. Only transit/loading fees wold apply since crude did get bought by US refiners and was olny transiting through. We would still be afffected and would not be able to diversify more than maybe 20% away from US market in the short run. That may take enough crude away from US market to really cause some pain for US refiners though. Gasoline and diesel shortages may result unless the US has heavy crude in storage to weather the lower imports. Kind of hard to say how this will play out untill it does...