Cutting off oil is Canada's nuclear option. What would it mean if it happens?
Cutting off oil is Canada's nuclear option. What would it mean if it happens?
Crude oil tariffs in response to Trump's threats would cause pain on both sides
In Canada's arsenal of possible responses to a Trump tariff, the nuclear option is the threat to withhold, reduce or place export tariffs on Canadian energy.
Already, the mere suggestion of such a tactic has caused a split between the government of Alberta, on one side, and the governments of Canada and all other provinces on the other.
Tariffs on imports from the U.S. have the potential to cause pain to certain industries and regions, but Prime Minister Justin Trudeau himself has acknowledged that the effect of Canada's import tariffs would be diluted by the size of the U.S. population and economy.
The withholding or tariffing of Canadian resource exports, on the other hand, has the potential to cause real, generalized discomfort to the U.S. — albeit at great cost to Canada as well.
I'm fully in favour of cutting off the oil but I think it might be wise to be careful on that one, and first secure some other places to sell it. We do still need to eat. If we're not careful this will turn into a siege.
the trouble is that if it's a siege, it goes both ways, and I don't think in our current state we're in a position to win it. That may change as we settle in, Canadians are a stubborn and hardy people.
Isn't most of Alberta's oil exported as unrefined bitumen and then refined in the US? If that's the case, we'd need to find a trading partner that can handle our product.
afaik yes, and that's exactly the problem I'm referring to.
gestures to the past 20+ years of me and many like me saying we need to refine this shit locally --- sigh.
You need to refine it yourself. Exporting raw materials are good for short term profits but you are more exposed to price fluctuations . Look at kora for instance. They seems to have a more stable economy now than when they mostly expected raw materials
Apparently they’ve been looking for new buyers
Also, whenever someone touches oik that the us feels they are obliged to, invasion follows...
Mind you, they will bever be able to hold Canada, they haven't been able to hold anything since world war 2 and holding a territory that literally has family and friends, that will never end well for the US.
But they'd be stupid enough to go for it anyway and it would destroy the US and Canada and for what?
So that Cheeto and the idiots can get more moneys