Quote:
Originally Posted by Cappy
My point is, that we are thinking people will be clamoring for Alberta oil the day this happens, which i think is untrue. There are options in place that could make Alberta blink (if our government didnt bend over already), as opposed to electricity which will be nearly impossible to absorb short-term.
We talk like Alberta is the lynchpin here. It maybe isnt
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I don't think you are fully understanding the reliance that the US has on Alberta oil or you don't want to give credit to the argument that Alberta does have leverage in the tariff battle.
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Crude oil imports from Canada have become increasingly important to U.S. oil refineries, now making up most U.S. imports. U.S. oil refining capacity stood at 18.4 million barrels per day (b/d) as of January 1, 2024. In 2023, 60% of U.S. crude oil imports originated in Canada, up from 33% in 2013.
As crude oil production has increased in Canada, so have exports to the United States. Imports from Canada to the United States grew by an average of 4% in every year from 2013 to 2023. Canada’s crude oil exports to the United States amounted to 24% of U.S. refinery throughput in 2023, an increase from 17% in 2013.
Crude oil production averaged 4.6 million b/d in Canada during 2023, nearly three times the country’s 1.7 million-b/d refinery capacity. Many U.S. refineries are designed to handle heavy oils like those produced in Canada’s oil sands, yielding refined products such as transportation fuels (gasoline and diesel), chemicals, and plastics.
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https://www.eia.gov/todayinenergy/detail.php?id=62664
The US will burn through the reserves that they have of heavy oil pretty quickly and finding a replacement for the Alberta oil is not very easy.