The Canadian Energy Industry warns ‘thousands of jobs at risk’ from a trade war with us
After a few weeks of uncertainty, the Canadian Energy Sector received the news he was afraid of – now he will soon start imposing tariffs on Canadian oil and gas imports.
On Friday, President Donald Trump said he would They probably place tariffs on Canadian oil and gas at 10 percent.
Although less than originally afraid, people who work in the Canadian energy industry say it is still significant and will affect both sides of the border.
Trump says Canada nothing can do to stop the tariff to enter into force
Experts say that despite the tariffs, Americans still need the oil and gas of Canada, because nearly two-thirds of oil imports in the United States come from the north of the border, and many refineries in the US Middle West are designed especially for the processing of heavy Canadian raw oil.
“These refineries are very dependent on the Canadian raw oil. So, 4 million barrels a day – this is approximately one of the four barrels used by US consumers as gasoline and diesel. So you know, refineries will have to increase prices,” said Richard Masson, professor public policies at the University of Calgary.
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However, higher prices are expected to lead to less demand.
“This will have a huge blow to the Canadian economy,” said Gurpreet Lail, the Enserva CEO. “Tariffs will exhibit tens of thousands of jobs.”
The Canadian Association of oil producers warns if Canada responds to US tariffs by reducing the export of energy in the US, could leave Ontario and Quebec vulnerable because they depend on the import of oil and gas from the USA
Canadian press/Graham Hughes
The Canadian Association of Oil Manufacturers announced that a trade dispute with the US could endanger other parts of Canada, especially Ontario and Quebec, which depend on the US to import raw oil, natural gas and other refined oil products and there are no more available alternative sources.
CAPP warns in a statement that “this addiction is the risk of Canadian retaliation, such as export limit to US exports, could also lead to similar actions from the United States, resulting in a lack of energy and higher prices for Canadians.”
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