Quote:
Originally Posted by DoubleF
What does Trump in power mean for Alberta O&G?
I know he wants to do more internally for USA such as manufacturing and ignore climate change stuff, so if they develop more O&G in the US, does that hurt Alberta more than what Harris was going to do?
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It's complicated. Depends if he tariffs it. Even then who knows.
In my opinion I doubt it affects it. The US isn't producing enough oil to be self sufficient, so they still need Canadian oil. The refiners that buy it need to refine and sell so they would have to pay the tariff, and pass that to consumers in higher fuel prices because CDN producers (I doubt) are going to eat the tariff. So that is complicated.
If he tariffs it (I heard 10-20%) likely all it is going to do is create inflation via higher fuel costs in the USA. MAYBE it creates an export issue in Canada if for some reason they "unleash" their own industry to fill demand, but that would take time and cost money to retro refining facilities.
It's a global industry though with an outrageous amount of moving parts. Too many "ifs" so I doubt anyone really knows.