After weeks of uncertainty, Canada’s energy sector learned the news it feared – the United States will soon begin to impose rates on Canadian oil and gas imports.
On Friday, President Donald Trump said that he would likely set prices on Canadian oil and gas at 10%.
Although it is less than fearing at the origin, the people who work in Canada’s energy industry say that it is always important and will have an impact on both sides of the border.
Experts say that despite prices, Americans still need Canada oil and gas, because almost two -thirds of American oil imports come from the northern border and many American midwest refineries are designed specifically to treat the heavy Canadian gross.
“These refineries depend very much on Canadian crude. Thus, 4 million barrels per day – it is about one in four barrels used by American consumers as petrol and diesel. So you know, refineries will have to increase prices, “said Richard Masson, professor of public policy at the University of Calgary.
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However, higher prices, in turn, should also cause a request lower than a request.
“It will have a hard blow for the Canadian economy,” said Gurpreet Lail, CEO of Ennéva. “The prices will put tens of thousands of jobs in danger.”
The Canadian Association of Oil Producers warns if Canada reacts to American prices by reducing energy exports to the United States, it could leave Ontario and vulnerable Quebec because they depend on oil and gas imports UNITED STATES
The Canadian Press / Graham Hughes
The Canadian Association of Oil producers has said that a commercial dispute with the United States could also endanger other parts of Canada, in particular Ontario and Quebec which depend on the United States for imports of crude oil, natural gas and other refined oil products and there is not immediately alternative sources available.
CAPP warns in a press release that “this dependence presents a risk that Canadian reprisal measures, such as export restrictions on American exports, could also lead to similar actions from the United States, leading to energy shortages and higher prices for Canadians. “
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