• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 4 hours Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 2 hours Demand for Diesel vs. Oil
  • 16 hours Which type of Hegemony will China follow
  • 7 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 1 day Here is Why People Lose Money Trading Natural Gas
  • 1 day Governments that wasted massive windfalls
  • 8 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 22 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 1 day Let’s take a Historical walk around the Rig
  • 1 day US Shale: Technology
  • 2 days We're freezing! Isn't it great? The carbon tax must be working!
  • 2 days 2nd Annual Great Oil Price Prediction Challenge of 2019

Breaking News:

Oil Prices Rise On Surprise Crude Draw

As Gas Prices Crash, Will This Shale Giant Survive?

As Gas Prices Crash, Will This Shale Giant Survive?

Fracking giant Chesapeake may seem…

OPEC Considers Deeper Oil Cuts Amid Virus Market Meltdown

OPEC Considers Deeper Oil Cuts Amid Virus Market Meltdown

As leading OPEC producers downplayed…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Alberta Warns Trump Of Retaliation If Energy Sanctions Begin

Trump

Alberta Premier Rachel Notley warned U.S. President Donald Trump that he would face the wrath of the northern nation’s many allies if the freshman president begins employing energy trade restrictions with Canada.

Notley is currently in China, negotiating her country’s trade policies with the Asian giant. She told reporters that she did not know what was meant by Trump’s comments about what Canada has done to its American neighbor with the energy, softwood lumber, and dairy industries.

"Canada, what they've done to our dairy farm workers, is a disgrace. It's a disgrace,” Trump said before signing a memorandum about investigation the national security implications of importing foreign steel. Trump also criticized NAFTA in general, calling it a “disaster”, adding that that “included in there is lumber, timber, and energy. We’re going to have to get to the negotiating table with Canada very, very quickly”

"We're not exactly sure what it is he was referring to,'' Notley said in a conference call Monday, according to The Huffington Post. "The leadership of the U.S. administration is going to find that they have a lot of their own stakeholders reminding them how much they need Canadian energy,'' she said.

Figures from 2016 show that 41 percent of all American crude imports, or 3.3 million barrels per day, came from Canada.

Related: Did OPEC Shoot Itself In The Foot?

Trump has suggested ambiguous “very big changes” to the North American Free Trade Agreement (NAFTA), which strings together Mexico, Canada and the U.S. through a uniform tariff policy. Opponents of the trade bloc created by the 1994 deal say it caused the growth of the U.S. trade deficit with its northern and southern neighbors, along with considerable job losses.

The U.S. is the largest refining complex in the world, and Canada’s cheap heavy oil pricing relative to other competing crude grades in the West Coast and Gulf Coast has made a lot of profit for U.S. heavy oil refiners. If Canada is planning on exporting 890,000 barrels per day of crude oil to the large refining markets of the Asia Pacific with a preference for heavier crude oils, this will inevitably hurt U.S. heavy oil refiners that benefitted from refining cheap Canadian heavy crude.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage


Leave a comment
  • Barry on April 25 2017 said:
    Cut him off right now. He can import it from
    Russia. Iran, Venuzual
  • Luis on April 25 2017 said:
    Someone needs a history lesson in protectionism. Let's hope cooler heads prevail, nobody wins. Canadians have more to lose than our American friends and I think Trump is leveraging here.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play