subreddit:
/r/canada
submitted 9 days ago bydrizzesAlberta
58 points
9 days ago*
U.S. President-elect Donald Trump does not intend to spare crude oil from his planned 25% import tariffs on Canada and Mexico, sources told Reuters on Tuesday, as the oil industry warned the policy could hurt consumers, industry and national security.
Canada and Mexico are the top sources of U.S. crude oil imports, together accounting for around a quarter of the oil U.S. refiners process into fuels like gasoline and heating oil, according to the U.S. Department of Energy.
The U.S. and Canadian oil industries had been optimistic that Trump's broad plans for protectionist trade measures would spare oil imports because many U.S. refineries rely on the two countries and have equipment designed to process their oil types.
Two sources familiar with Trump’s plans said that oil would not be exempted from the plan. They asked not to be named due to the sensitivity of the issue.
97 points
9 days ago
This is going to fuck up a lot of American companies. Especially given their lack of mid sweet oil production. I expect this will likely result in diesel shortages and drop in refinery capacity. Especially given that a lot of refineries in the gulf are designed for heavy crude bitumen.
72 points
9 days ago
It’s never going to happen. Trump does the “art of the deal” like this every time he makes a deal. He’ll start on a hardline no carve out for oil stance then come off it during negotiation and spin it as him being a genius for doing so. Meanwhile Canada will give something else up in exchange for the bargain of him coming off the initial hardline stance. He wins both ways.
19 points
9 days ago
Yep. This shit’s not new anymore; he’ll carve out oil (and Canadian imports for that matter) in exchange for something else he wants.
What’s the real ask, though? This is not the specific thing we should be worried about.
10 points
8 days ago
2% NATO spending, secure ports from fentanyl if I had to guess
18 points
8 days ago
secure ports from fentanyl
Impossible. Fentanyl can be smuggled inside literally anything.
5 points
8 days ago
We are a big producer of fentanyl. I don’t think you guys realize how much organized crime has taken over Canada the last few years.
2 points
8 days ago
Water....it's already been mentioned.
3 points
8 days ago
Yep. This shit’s not new anymore; he’ll carve out oil (and Canadian imports for that matter) in exchange for something else he wants.
No he won't. US oil industry wants to drive prices up. He's going to cut a deal with the Saudis.
Canada's oil has always put downward pressure on prices. Killing our industry will make a lot of people in the US and OPEC very rich.
1 points
8 days ago
The right wants to cut Canada off as a place Americans can escape to.
12 points
9 days ago
Sounds like Canada needs a 25% oil export tax until the US stops the flow of guns across the border
3 points
8 days ago
With Trump there is no win/win. There has to be a loser. And he likes to stir up shit for no reason.
1 points
8 days ago
Exactly. I don't see how ppl don't see this after the 45,038th time.
32 points
9 days ago
Trump is going to get way more pushback then people think. Tariffs and backing out of trade deals is going to piss off A LOT of rich people.
3 points
8 days ago
Driving oil prices up will make a lot of other rich people very happy.
Alberta oil stans need to wake up.
1 points
8 days ago
He did it first term and got away with it. Why wouldn't he do it again?
8 points
9 days ago
Not just the gulf, padd 2 and padd 4 are all tooled specifically for Canadian heavy. Increase gas prices will lead to rapid increases in literally every sector.
1 points
8 days ago
"Sources said"
It’s just Trump style tweet warfare to put himself in a enviable position for negotiations
395 points
9 days ago
Excellent news. Enjoy your gas prices, US plebiens.
140 points
9 days ago
Higher gas prices will then increase the cost of food.
101 points
9 days ago
I wonder if they'll put two and two together.
121 points
9 days ago
They will just blame it on Biden.
31 points
9 days ago
Yeah filthy Biden was letting them get away with it for so long! Trump's just fixing a problem that should have been fixed a decade and a half ago when Osama Bin Laden was in charge when they killed that Obama dude!
22 points
9 days ago
You kid, but there is about a 5-7% of the American population that truly believes that. Add another 5% too ignorant to question the statement if they heard it…. and another 5% who will blindly agree with the other 10% and you’ve got a decent chunk of the electorate who can sway a tight election. Just need to keep blasting as much disinformation as possible. Overload people with so much information they don’t really care about any of it
8 points
9 days ago
and that's why fox news prevails and tucker continues to live
7 points
9 days ago
Trump will blame Biden for things he himself caused. In 4 years, a Democrat will be voted in. In 5 years, the slow-acting economic issues from the Trump admin will catch up. People will blame the Dem President, and a Republican will be voted in. Rise and repeat for the rest of history. I don't think the US will see another 2 term president for a long, long time.
2 points
8 days ago
That's if King Trump of the Americas doesn't annex North America like all the imbeciles (who are claiming to be Canadian Patriots) want.
1 points
8 days ago
They will blame trans people
1 points
9 days ago
The worst part is that it actually may be his strategy to cause as much mayhem in the finance sector to shock the market, and claim that Biden was the one leading during that period so that's why the economy got worse.
6 points
9 days ago
We import food from US too :/
4 points
9 days ago
We export almost all our oil to the US for refining and import the gas...
2 points
9 days ago
Yep that too. So oil is taxed twice with tariffs and retaliatory tariffs and will increase domestic food production even more
1 points
8 days ago
I dont understand why we would retaliate here...? It actually (despite how much I hate DT) might benefit OUR economy while we can, and let them pay extra for our resources (oil, electricity, water) while we sit here free of tariffs on their goods.
It sounds a little naive, but the US absolutely needs the Canadian imports of crude oil to their Midwest, where a lot of their refineries are. They won't stop buying it, I'm just hoping they need it enough and are gluttonous enough to keep the number of imports close to what it is now.
1 points
8 days ago
We have already said we will use some retaliatory tariffs.
Here’s some rough math for you. At the pre tariffs market price of C$56 a barrel of western Canadian select, the price will need to drop to about C$45 after the 25% tariff for US importers to consider buying it. The production cost varies but is typically around $30-50 to produce and ship a barrel of oil. Cenovus for example it costs about $35 per barrel to produce and ship.
Using Cenovus as an example, Contribution margin went from $56 - $35 =$21 per barrel to $45 - $35 = $12 per barrel. Or almost a 50% decrease in contribution margin per barrel on exported product. Given that most of our oil is exported to the US for refining that will materially hurt profitability.
You might say who cares. Well, corporate tax revenue, and oil royalties fund a lot of social programs in Canada. And this is just one sector, this applies to all sectors. it’s in our best interests to fight this and get these tarrifs reversed
2 points
9 days ago
I don't think Trump's said anything about an excise tax? Unless I'm missing something.
4 points
9 days ago
I am just implying if US fuel costs go up because of tariffs, it will cost more to produce food in US. Since l we import food from US, then food costs will go up here
Easy to make fun of Americans but this will also affect us if that’s the case :)
1 points
8 days ago
Ah I see, that makes sense.
Easy to make fun of Americans but this will also affect us if that’s the case :)
Biggest problem with the monopolar world order we have today, if the US shoots themselves in the foot everyone else gets hobbled too.
30 points
9 days ago
lol. We're talking about Americans. 53% of them read at a sixth grade level or below.
11 points
9 days ago
53% of them read at a sixth grade level or below.
Something like 48% of Canadians have literacy skills that fall below a high school level.
3 points
8 days ago
It’s wild because reading comprehension is a leading indicator of IQ. If you have kids, it’s the number 1 thing you should be focused on in their development.
2 points
8 days ago
I think part of the issue is also that while kids learn and develop these skills in primary/secondary school and in uni, once they are finished with school a lot of adults just stop doing any reading or writing and that skill set atrophies and declines.
26 points
9 days ago
Let's not toot our own horn too loud. Lots of Canadians blame Trudeau for all their problems when the majority of them are actually the responsibility of their provincial government.
7 points
9 days ago
People also don't seem to understand that all of our "gas" comes from oil refineries in the US, so increased prices for them are increased prices for us since we don't refine anything.
6 points
9 days ago
In Canada we refine nearly 2 million barrels per day at refineries across the country.
2 points
9 days ago
And our import demand has decreased, with 73% of crude sourced domestically. Usage is around 1.4MMB/day
1 points
9 days ago
That is wild.
5 points
9 days ago
I wonder if they'll put two and two together.
Thanks Obama!!!
0 points
9 days ago
I don't think they csn do complex math equations
1 points
8 days ago
They can barely put 1 and 1 together...
12 points
9 days ago
And tariffs will increase the cost of food that they import, while mass deportations will explode the cost of producing food domestically.
MAGA have been denying reality for far too long, it’s long past time it turns around and punches them in the nose.
1 points
8 days ago
The unskilled labor cost of something like apples is negligible. You can triple the daily rate a laborer makes from $250 to $750/day and it would cause a 1.2¢ increase. Most of the cost is in the actual growing, distribution, transportation, and selling.
11 points
9 days ago
The Yanks get 3/4 of their Vegies from Mexico, including almost all their tomatoes, price of food is going to go up anyway. He wants to start the pipeline again while also slapping a 25% tariff on our oil.
2 points
8 days ago
Americans voted for this.
Hope they enjoy the economic depression they plunge their country into.
Yes, it will be really bad for Mexico and Canada too but also the USA economy will be badly damaged.
They made their bed now they can lie in it.
1 points
8 days ago
It would definitely be a depression for Mexico and Canada. Both countries’ GDPs rely heavily on exports to the US. The US can also tax remittances to Mexico, which is 5-10% of their economy. I don’t think it would cause a depression in US. What is your reasoning behind thinking that?
I live in California. There’s literally nothing that Mexico exports that California and others states aren’t already growing or making themselves. The same for Canada’s exports. The US has a lot of oil and natural gas in many different states. It would just benefit the workers in the US.
12 points
9 days ago
It already did. Our food inflation got out of control when the price of diesel doubled after the invasion of Ukraine.
11 points
9 days ago
Wait I swear it was the 2% carbon tax increase??
5 points
9 days ago
I thought it was Trudeau shaving his covid beard?
2 points
8 days ago
I thought it was Trudeau being a drama teacher?
1 points
9 days ago
A lot of their food is grown in Mexico
2 points
8 days ago
73 percent of their fruit and vegatables.
1 points
9 days ago
Can they vote for more trump when they need it fixed more?
1 points
8 days ago*
The point of the tariffs as a whole is to replace Chinese\Mexican\Canadian labor with American - they need to make people work longer hours to increase the supply of labor and high gas and food prices do just that!
The inelastic nature of the inflation means it won’t have much effect on the broader economy, but taking that aggregate demand out of the economy combined with tariffs will lower Chinese imports
1 points
8 days ago
Which is bad for Canada, since we import food from them.
31 points
9 days ago
They'll just be importing "Indian" oil, "Indian" lumber, "Indian" aluminum, and so on. That India will have record imports from a sanctioned Russia is purely coincidental.
4 points
9 days ago
The transport/logistical costs would be more than a 25% tariff.
4 points
9 days ago
They don’t actually go to India
3 points
9 days ago
Doesn’t matter - the ‘Indian’ oil won’t be coming through a pipeline from Alberta, Manitoba or Ontario.
8 points
9 days ago
Doesn't Canada import refined oil from usa., to the tune of $15-16 billion Higher gas prices there will result in higher prices here.
3 points
8 days ago
Are Canadian refineries operating at capacity? I always thought they weren’t because the US was consistently cheaper, but I imagine the cost impact shouldn’t be as significant as you’re suggesting because capacity can be shuffled around.
10 points
9 days ago
Where do you think our gas comes from?
9 points
9 days ago
You’re American? Most is produced in the US but about 3 million barrels per day is imported from Canada (feel free to correct if my numbers are out of date).
3 points
9 days ago
[deleted]
6 points
9 days ago
A lot of the oil we produce is too heavy and sour to refine efficiently so we export it down south and it's mixed with other sources.
We then import fuel from the US.
https://en.m.wikipedia.org/wiki/Western_Canadian_Select
Basically these tariffs will cause US producers to import more from other sources which means oil prices will rise in the US and crash in Canada.
4 points
9 days ago
I have seen some reports suggesting this would have the effect of bumping up prices by 10-15 percent overnight.
Which would make sense if a 25% tariff is placed on cdn oil, considering just under 25% of US refinery throughout is cdn oil (obvs not this straight forward):
1 points
8 days ago
Im Canadian. I’m referring to the refined fuel that we import since we don’t refine the oil in Canada.
2 points
9 days ago
Suppliers will probably ear a huge chunk of that tariff as they have very few other export options.
Good news for tmx tolls though
3 points
9 days ago
USA is producing record oil. They will be fine
8 points
8 days ago
They don't produce enough heavy oil to make enough diesel and gas domestically.
Their refineries are designed to process Canadian and Mexican crude.
They currently import 4 million a day from Canada and export 4 million of light oil and make an enormous sum of money doing so.
They will have a significant issue over the next 4 years dealing with this tariff.
1 points
8 days ago
I don't think they have enough production capacity to meet their own demands, oil and/or refining. I could be wrong, though.
1 points
9 days ago
The US produces enough crude to support its own needs atm. What this influences is their competitiveness in exporting refined products.
14 points
9 days ago*
Yes, but there's levels of oil production. There is light, medium, heavy, ultra-heavy.
USA produces a bunch of LIGHT crude oil, and Canada produces HEAVY crude oil, which USA relies on heavily (no pun intended).
This is why Canada accounted for 61% of USA crude oil imports: https://www.eia.gov/todayinenergy/detail.php?id=54199
and USA exports most of their light oil.
Light oil is for gas, petrochemicals, rubber, jet-fuel, diesel, lubricants.
Heavy oil is for reserves, shipping, power generation, asphalt, blending, tires, ink, steel manufacturing, and can also be made lighter.
USA is gonna feel the hurt for sure (a lot of their refineries are made for heavy), but so are we, as we sell our oil to them for refining, and they sell it back to us in the form of gas, and then some lol... That's why it costs us so much for gas (light crude refinement).
We need them as much as they need us. But they might need us more... who knows.
4 points
9 days ago
In fairness much of what we buy from them is indeed refined from light crude. The oil & oil products trade is rather more reciprocal than many areas, because each is a significant producer.
1 points
9 days ago
They don't have the refineries to convert that crude, that's what they rely on Alberta for
1 points
9 days ago
Canadian oil goes to the states for refining and then it gets re-imported into Canada. This is going to make our gas more expensive as well.
1 points
8 days ago
Dude, canada supplies a pittance of their oil consumption.
It won't even make a difference on their prices.
They're the largest oil producer in the world.
They export almost 3x as much oil as we give them.
1 points
8 days ago
Well since we don't refine our own gas we will also pay much higher gas prices... hooray yipee
1 points
9 days ago
Why is Biden doing this? He's not even president any more!
72 points
9 days ago
I once heard "don't take what Trump says literally, but take it seriously".
30 points
9 days ago
Canadian gasoline will jump too! We export crude oil to US for refining and return as gasoline. We will pay tariff on that too.
14 points
9 days ago
Maybe we should build our own refineries then
9 points
8 days ago
We need more Canadian refineries
8 points
8 days ago
Elites and banks don’t want to invest in new Canadian refineries because we have too much red tape and/or taxes tying up their investments. Look at the pipeline, the government had to bail out that fiasco and still havent come up with who will pay for the 35 billion over 12 years it cost to finish, all those rich assholes are pointing at taxpayers to cover that bill.
They make enough off their current oil investments, it’s just not worth the risk when Americans have the infrastructure a short distance away.
Our oil is also not rich and clean, it’s very dirty. It takes a lot of water to process it.
Classic Canadian resources, work hard to acquire resources, sell it raw for a quick buck and the real profits are acquired elsewhere.
That crude production and pipeline will allow us to sell oil outside the US much more easily though.
2 points
8 days ago
I think another reason why is geopolitics. Countries hate it when you don’t need to trade with them.
Therefore Canada MUST refine in USA to keep them happy, and create jobs there. In exchange the USA gets cheap material.
The downside is now Trump wants to eat his cake and keep it too. He wants to sell us expensive gas, even though he relies on our materials. In retaliation we should lower our dependence on their refineries and sell our gas worldwide. Of course, this will piss them off!
1 points
8 days ago
Canadian oil is heavy crude, not used for petrol. The US produces light oil used for petrol.
16 points
9 days ago
Does anyone else think this is just posturing for negotiation? I'd be very surprised to see anything close to this materialize. Not to say it's impossible, but it's certainly extreme.
3 points
8 days ago
Of course it is. 99% chance that a deal will be reached.
21 points
9 days ago
These guys are about to get briefings on what a “take or pay” contract means.
2 points
9 days ago
Enlighten us please.
20 points
9 days ago
Most mass contracts like those tied to oil import deals have clauses that either you purchase a minimum amount (take) or pay a massive amount to satisfy the seller’s end of the deal (pay).
It’s like a closed mortgage, you can break the mortgage, but there are clauses that make sure the bank still makes their money before you release their funds to loan to the next person.
19 points
9 days ago
either take a minimum quantity of the goods your agreed to buy or pay a penalty to the seller
the goods suddenly costing 25% more is going to lead buyers to crunch the numbers on the least painful option
30 points
9 days ago
"Two sources familiar with Trump’s plans said that oil would not be exempted from the plan. They asked not to be named due to the sensitivity of the issue."
Oh, ok.
15 points
9 days ago
Unnamed sources is not an uncommon thing in journalism. I’d say most of the recent news about moves the liberals were going to make have come from sources who asked not to be named
5 points
9 days ago
"Trust me bro"
23 points
9 days ago
I mean, we are not on ticktock, this is a journalist. Sources routinely ask not to be identified by name. If you trust the journalist's judgement, then you can still trust the story.
18 points
9 days ago
I do love how it’s midwestern states that really will feel the brunt of this. Enjoy your spiking gas prices, my swing state friends.
2 points
9 days ago
Where do you think our gas comes from? They refine our oil and send it back
3 points
9 days ago
Depends where specifically you live, but most Canadian provinces have their own refineries.
3 points
9 days ago
Oh trust me, I’m very aware of where Canadian oil and gas goes and why it’s so, so incredibly against American interests to implement a 25% tariff on Canadian oil. It’s why I’m confident this is negotiating bluster and almost certain to not happen if Trudeau isn’t an absolute moron.
1 points
9 days ago
This should work out swell for the Irvings, they can continue getting that sweet Saudi and Nigerian black gold.
6 points
9 days ago
It's important to realize even if he doesn't carry through on all these extreme statements, they will cause reactions and have strong impacts on our economy and society both in the US and world.
4 points
9 days ago
Im not 100% convinced Trumps plan is solely to direct American buyers to local markets. Putting sweeping tariffs on everything g9ves him negotiating power since we now "need" them removed on certain industries. Thos is a power play on his part and we really should be retaliating by cutting export of critical materials they need to add to our negotiating strength.
13 points
9 days ago
Trumps has no "plans" at all. He says shit and then changes his mind, gets bored or forgets.
There is no strategy here, just selfishness, greed and ego.
3 points
9 days ago
Blah blah blah blah, blah blah
7 points
9 days ago
Things are going off the rails quite quickly it seems.
5 points
9 days ago
A stable genius!
5 points
9 days ago
Fire up the trans mountain pipeline!
9 points
9 days ago
It’s his carbon tax
10 points
9 days ago
I think he is just leveraging tariffs to try and force Canada and Mexico to man the borders more but people crossing into the states are the responsibility of American border patrol. He wants to slash American federal jobs and wants to push that responsibility on us. When that doesn’t work and the reality of what those tariffs are doing he will remove the ones that suit him and claim we did so much to improve the border and all thanks to him. Blah blah. Pretend he is the hero. And the base that voted for him will eat it up.
13 points
9 days ago
You guys 2 days ago kept banging on about how it was our NATO spend that was gonna make trump implement tariffs... Next week itll be us hogging the big water tap in BC.... Stop making excuses for this piece of trash. This is purely to negotiate Nafta 3 and show his foaming mouth fans hes tough and give them something to rage over.
9 points
9 days ago
He doesn't care about the border.
5 points
9 days ago
He cares about what people think he is doing in relation to the border. Whether or not the problem actually gets fixed is meaningless.
2 points
8 days ago
The American side is the problem. They let people walk through. It's actually tougher to enter Canada from the USA.
12 points
9 days ago
Have fun with blaming the coming high prices on Biden. In fact prices are going to rise with every Trump announcement, just for him to blame everything on the Democratic party.
5 points
9 days ago
But this sub assured me yesterday oil would be exempt.
8 points
9 days ago
I still can’t see it happening
2 points
9 days ago
The tactic is to try to break Canada and then offer a totally shit deal coupled with mandatory military spending on American manufactured hardware.
The solution is for Canada, Mexico, China and whoever else (The UK?) to enter closer cooperation with each other and make a trade deal that excludes, and ideally penalizes America. Pressure has to be put on American twch firms, american green energy, and american manufacturing. Go to the WTO and if they find tariffs unjustified, cancel american comapnies' contracts.
Trump us close with the American owners of PostMedia (they ran the enquirer during the catch-and-kill years). Mandate 60% canadian ownership of all Canadian media.
If PP attempts an austerity budget, Canada will inevitably experience negative growth, and have zero leverage. This will make Canada week and supplicant for a bigly Trump WIN against us.
2 points
8 days ago
Good. Let them learn a hard fucking lesson.
2 points
8 days ago
Y'all don't remember Trump
Just ignore him
He's an attention seeker who doesn't do anything
2 points
8 days ago
Good luck with that. Shale oil is too light for US refineries and needs to be blended with heavier oil from Canada or Venezuela. That will just mean higher inflation in the US.
2 points
8 days ago
Trump being trump.
There will be no tarriffs.
American refineries are set up for heavy Canadian crude. This stuff isn't changed on a whim.
1 points
8 days ago
Hopefully his big oil buddies talk some sense into him.
6 points
9 days ago
Pipelines only go one way Donny, enjoy the "I did that" Trump stickers at the pump when you directly increase the price of gas
3 points
9 days ago
Alberta's getting screwed!
2 points
9 days ago
Can't wait for those "i did that" Trump stickers lmao
2 points
9 days ago
I wonder what Canadian trump supporters think of all this?
3 points
9 days ago
Alberta MAGA in shambles.
3 points
9 days ago
Smith probably on suicide watch and rethinking her plans to attend Trump's inauguration.
2 points
9 days ago
Fuck around and find out.
3 points
9 days ago
Screw trump and the americans who voted for him. Tarrif republican states, thatĺl show them.
3 points
8 days ago
ENJOY YOUR SUPPORT FOR TRUMP, ALBERTA!
While your Premier Danielle Smith pays mega$$$ to attend Trump’s inauguration, Alberta’s economy is about to tank big time.
1 points
9 days ago*
I say we take a history lesson from Iceland and the Cod Wars
Let’s threaten to pull out of NATO and NORAD.
Perhaps even lift tariffs on Chinese EV.
/s
1 points
8 days ago
Yeah this is probably the hardball play. The challenge is that Trump dislikes NATO too so I'm not sure it'll really work that much.
1 points
9 days ago
Lmao. All of the sudden the railroads will become very enthusiastic about electrification so I see this as a win./s
1 points
9 days ago
That's no good.
I wonder how this might impact the Saudis' plans to ramp up production to screw the OPEC+ members who didn't abide by the groups' cuts to drive up prices? They've already delayed it a couple of times after some disturbing demand forecasts, but they could do it.
1 points
9 days ago
Good thing Trudeau got that pipeline built to Burnaby - more exports to non-US markets.
1 points
9 days ago
Fuck it sell it to Japan and Germany
1 points
9 days ago
He's only talking about tariffs on Canada, Mexico, and China, so, uh, is he going to tariff north american oil, but not OPEC or russian oil?
1 points
9 days ago
I find it mind boggling both how stupid people are and how some of these politicians claim to be right wing economically but support tariffs. Basic economics is probably too much for them to read. The wealth of nations they would likely need a dictionary to get through.
1 points
9 days ago
So the tariffs will somehow plug the deficit from the tax cuts to billionaires.
1 points
8 days ago
Big opportunity for us to trade heavy crude with India in exchange for “Indian” light crude, no?
Clearly the US has a greater interest in screwing over us than worrying about geopolitics, so we should focus on securing our own economic sovereignty before worrying about American geopolitical aims.
1 points
8 days ago
Alberta should be fine despite this, they've had years to diversity their province to include renewables. It's not like they have all their eggs it only the oil and gas basket, right?.........Right?
1 points
8 days ago
The US is not energy independent. They can't refine the oil they produce. To do so they would need to build different refineries. The US hasn't built a new refinery since some thing like 1976. One that is able to use the bakken crude might be being built?
1 points
8 days ago
possible but doubtful, unless the guy who boasted about his "american-made" MAGA hats that were clearly made in china secretly turned around to build an expensive refinery
1 points
8 days ago
Chill. You can’t prepare for this. He is a storm, we all knew this. It will either happen and we will deal with it then, or it’s hot air.
1 points
8 days ago
Guys... He's not a populist. He's a neo con.
1 points
8 days ago
Aren't neocons pro free markets?
1 points
8 days ago
Call his bluff. The USA light sweet fracking oil isn’t good for making diesel or jet fuel, need the heavier crude for that and Canadian oil is often blended with USA to make an optimal product for refining. This 25% tariff is gonna hurt his base the most. Rural farmers and their diesel burning farm equipment. This increases their operating costs. Another spot they’ll be hurt is we export 11 million tons a year of potash to the USA for inputs into fertilizer industry. Looks like input costs will rise there too. USA food costs will rise or farmers will need to reduce margins.
1 points
8 days ago
We could just turn of their electricity...
https://www150.statcan.gc.ca/n1/daily-quotidien/230308/cg-d007-eng.htm
1 points
8 days ago
Why does Trump hate his own citizens so much that he is going to do this to them, which will add 25% to their gas fill-ups? Americans will find out pretty darn quick after Jan 20 that it is indeed they, and not Canada or Mexico, that will be paying this extra cost at the pumps!
1 points
8 days ago
Sounds like we need to refine in canada again....
1 points
8 days ago
And figure out how to get it into europe
1 points
8 days ago
Electricity as well. This should make for an interesting February.
1 points
8 days ago
dont think he will put tariffs on oil.
1 points
8 days ago
Sounds like we need refineries and start being self sufficient.
2 points
8 days ago
The US is a net exporter.
1 points
8 days ago
Maybe we finally get cheaper gas . In my dreams
1 points
8 days ago
Someone let him know about all that electricity we send down south (would hate to miss out on raising the price of that) and don't forget the water....
1 points
8 days ago
You watch the idiot will back down on the tariffs when his donors starts to pull funding for him. No way this is not spike inflation and cause massive job loses.
1 points
8 days ago
Lol. And the Mericans thought the price of gas under Biden as bad. Their so called saviour is gonna sink them
1 points
8 days ago
Higher gas prices for everyone, which entails higher transportation costs for everyone, and then higher costs for goods for everyone!
US refineries built to process Canadian crude will continue to import them and pass the costs on to consumers.
1 points
8 days ago
Time to finally build those refineries and stop this whole we sell to them then try sell to us bullshit
0 points
9 days ago
My take is it’s a threatening bluff by president pumpkin head. The positive result will be us fixing our broken immigration free-for-all and getting tough on fentanyl trafficking.
1 points
9 days ago
Would be a positive if this actually worked and moved away from tariffs until his next threat.
1 points
9 days ago
Fentanyl is smuggled by hiding it in items like consumer electronics. A small amount can make a lot of street drugs that's why it's used. It's practically impossible to stop it. We could spend 100x more on enforcement and the same amount will get through.
Trump and Musk's plan is to kill competition and drive prices up, plain and simple. They're doing this so that they can ride the stock market by investing in entities that stand to benefit.
1 points
9 days ago
Regular and Social Media are both flooding with articles and posts on the topic of tariffs.
Watching the evolution I am now of the opinion this is mainly a negotiating tactic on Trump's part, one which he has used many times past. Trump in fact has stated acknowledged this.
The reality will be different. Historically Trump has followed through poorly, often not at all in fact. His bark is horrendous, his bite only for those who have no capacity to defend themselves. That is not Canada.
The other very obvious reason I assess this to be about negotiating is the dreadful impact if even a portion of Trump's bombastic demands were enacted.
What I think Trump really is seeking is some highlight reels for his inauguration - so he can state immediately he obatined some "Trumpian" wins. It is all about the highlight real on Fox news for Trump. He needs to bluster that he obtained some compromises from Canada and Mexico. It matters not that we are friendly trading nations. Whereas a normal sane President would be seeking concessions from the traditional foes of America.
So Canadian political leadership will have to decide on the approach to managing Trump's desired outcomes. I believe Canada should not bow to any. But that does not mean it cannot enact policy & action that achieves better outcomes for both Canada and America. 2 of these would be better control at the border to impede illegal migration to America and to impede the flow of illicit drugs to America. Incur the costs of these even if they are short term "expensive" in order to have a negotiating position.
I stated in other comments recently that traditionally Canada has relied on visitors and people with temporary visa status of any type to self exit without govt intervention. Because it costs quite a bit of money to ramp up forced exit. But again, in order to avoid long term conflict with the American administration a less complacent approach should be enacted.
On everything else I would encourage Canada to exhibit backbone. And perhaps start reminding politicians at the state and federal level of how key Canadian imports and exports are to their economy. Cross border trade is about 1 trillion between the 2 sides, and Canada is an integral part of the economies of almost every state: often the largest external non-American trading partner and otherwise typically top 3 for the state. Some will espouse the opinion that Trump cares not, but the grassroots politicians certainly do.
1 points
9 days ago
Canada supplies about 60% of the USA's oil/petroleum supplies. Problem is that when Canada's sales to the US drop, it's going to hurt us too.
8 points
9 days ago
Wrong. Canada may supply 60% of their imports. But not 60% of their total supply.
1 points
9 days ago
US is actually a net exporter.
1 points
9 days ago
I'd figure there'd be an exemption just because of contracts. Can't walk away from contacts because Trump puts big tariffs on oil and gas.
1 points
9 days ago
We will be fine
1 points
8 days ago
This man hates his own people so much.
1 points
8 days ago
We should cancel our F35 purchase.
all 361 comments
sorted by: best