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OIL: Canada Oil Patch Warns Trump Tariff Would Raise US Gasoline Prices

OIL
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Canada’s oil industry has warned that tariffs imposed on its exports to the US would hike US gasoline prices, according to Bloomberg.

  • “The tariffs would result in “higher gasoline and energy costs to American consumers while threatening North American energy security,” Lisa Baiton, CEO of the Canadian Association of Petroleum Producers, said in an emailed statement to Bloomberg.
  • Alberta premier Danielle Smith said that the Canadian government should work with Trump to address his “valid concerns related to illegal activities at our shared border.”
  • The US imports almost 4m b/d of Canadian crude, allowing the US to export an even greater amount of more expensive oil, while still meeting domestic demand.
  • Energy products account for around one third of its exports to the US, the single largest category.
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Canada’s oil industry has warned that tariffs imposed on its exports to the US would hike US gasoline prices, according to Bloomberg.

  • “The tariffs would result in “higher gasoline and energy costs to American consumers while threatening North American energy security,” Lisa Baiton, CEO of the Canadian Association of Petroleum Producers, said in an emailed statement to Bloomberg.
  • Alberta premier Danielle Smith said that the Canadian government should work with Trump to address his “valid concerns related to illegal activities at our shared border.”
  • The US imports almost 4m b/d of Canadian crude, allowing the US to export an even greater amount of more expensive oil, while still meeting domestic demand.
  • Energy products account for around one third of its exports to the US, the single largest category.