After weeks of uncertainty, the energy sector in Canada received the news it feared – the United States will soon start a tariff on Canadian oil and gas imports.
On Friday, President Donald Trump said he would likely put the tariffs on Canadian oil and gas by 10 percent.
Although this is less than fear in the first place, people who work in the energy industry in Canada say they are still important and will have an impact on both sides of the border.
Experts say that despite the definitions, the Americans still need oil and gas in Canada because nearly two -thirds of the US oil imports come from the north of the border, and many refineries in the Middle West are specifically designed to treat heavy Canadian crude.
“These refineries are highly dependent on Canadian crude. Therefore, 4 million barrels per day – it is about one in four barrels used by American consumers like gasoline and diesel. Richard Mason, professor of general policy at Callajari University, said:“ You know, the refineries will have to Prices are raised. “
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As for the news that affects Canada and around the world, he participated in the urgent news alerts that were delivered directly when it occurs.
However, high prices, in turn, are expected to lead to low demand.
“This will be a major blow to the Canadian economy,” said Filbert Lille, CEO of Enserva. “Definitions put tens of thousands of jobs at risk.”
The Canadian Association of Petroleum Producers warns if Canada has responded to the American definitions by reducing energy exports to the United States, it may leave Ontario and Kepeek vulnerable because it depends on oil and gas imports from the United States
Canadian press/Graham Hughes
The Canadian Petroleum Producers Association said that the trade conflict with the United States could put other parts of Canada, especially Ontario and Cubic, which depends on the United States for crude oil, natural gas, and other alternative sources available.
Capp warns in a statement that “this dependence is a risk that Canadian reprisals, such as export restrictions on American exports, can also lead to similar measures from the United States, which leads to a lack of energy and high prices of Canadians.”
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