The problem with oil as a chip is that the USA has yo-yoed from bring a net importer to net exporter over the last few years. They have the capacity and ability to turn on the taps to meet increased demand. They also have the ability to buy from dozens of clients with access to ports. Coupled with 350 million barrels of oil in the Reserve, they have a pretty good chance of making up the production prior to having the taps turned off.
Alberta, frankly just doesnt have the bargaining cache we think it does.
I still think Ontario and Quebec have the best chips in electricity generation - but those are all blue states, so who knows
|