MNI BRIEF: Trade Uncertainty To Lift CPI - RBA's Hauser

MNI BRIEF: Fed's Williams Sees Inflation Uptick From Tariffs

MNI BRIEF: Canada Export Taxes Only If Broad Support- Trudeau

MNI BRIEF: Mexico President Promises Trade Retaliation Sunday

MNI China Daily Summary: Tuesday, Feb 4

MNI BRIEF: China To Work With Partners As U.S. Tariffs Hit

MNI: AUSTRALIA Q4 GDP +0.6% Q/Q

EZ/UK Bond Supply Calendar: 30-Year Bund Syndication Upcoming

EZ/UK T-Bill Calendar: Greece, EU Auction on Wednesday

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AMERICAS OIL: 'We need to seize this moment,' says Canadian oil, gas ind group

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

'We need to seize this moment,' says Canadian oil and gas industry group: Yahoo Finance

  • In a statement on Tuesday, the Canadian Association of Petroleum Producers (CAPP) said it’s “deeply disappointed” by Trump’s decision to impose across-the-board tariffs on imported Canadian goods. U.S. tariffs imposed on Tuesday include a 10% levy on Canadian energy products like oil and gas.
  • “We are at a significant moment in Canada’s history – we need to seize this moment,” CAPP president and CEO Lisa Baiton said in a statement on Tuesday. “The choices we make today will determine whether we become a global energy leader or continue to fall behind.”
  • According to CAPP, Canada exported roughly 80% of its total oil supply to the U.S. in 2023 and is the largest foreign supplier to the United States.
  • Historically, a lack of pipeline takeaway capacity to coastal export terminals has limited Canadian exports to other markets. The expansion of the Trans Mountain Pipeline from Alberta to Canada’s West Coast last year boosted exports of Canadian crude to non-U.S. markets, including Asia.
  • “We must now recognize the relationship with our closest friend, ally, and trading partner has fundamentally changed,” Baiton added. “In this moment, we must act with urgency to focus on the Canadian national interest. Without greater global market reach and energy security, Canada has little leverage in our trade relationship with the United States.”
225 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

'We need to seize this moment,' says Canadian oil and gas industry group: Yahoo Finance

  • In a statement on Tuesday, the Canadian Association of Petroleum Producers (CAPP) said it’s “deeply disappointed” by Trump’s decision to impose across-the-board tariffs on imported Canadian goods. U.S. tariffs imposed on Tuesday include a 10% levy on Canadian energy products like oil and gas.
  • “We are at a significant moment in Canada’s history – we need to seize this moment,” CAPP president and CEO Lisa Baiton said in a statement on Tuesday. “The choices we make today will determine whether we become a global energy leader or continue to fall behind.”
  • According to CAPP, Canada exported roughly 80% of its total oil supply to the U.S. in 2023 and is the largest foreign supplier to the United States.
  • Historically, a lack of pipeline takeaway capacity to coastal export terminals has limited Canadian exports to other markets. The expansion of the Trans Mountain Pipeline from Alberta to Canada’s West Coast last year boosted exports of Canadian crude to non-U.S. markets, including Asia.
  • “We must now recognize the relationship with our closest friend, ally, and trading partner has fundamentally changed,” Baiton added. “In this moment, we must act with urgency to focus on the Canadian national interest. Without greater global market reach and energy security, Canada has little leverage in our trade relationship with the United States.”