The president-elect may have promised painful tariffs on countries that trade with the U.S., but it will remain reliant on Canada’s largest export
No one knows exactly what the mercurial Mr. Trump will do when he takes office early next year. But there are compelling reasons why oil will be seen as its own special trade category by the Trump administration 2.0. Pumpjacks operate as wildfire smoke hangs in the air near Calgary, Alberta, May 12.
“It‘s truly an integration of two systems – heavy production in Canada with heavy demand in the United States,” Mr. Birn said. Another reason energy is likely to be a special category for trade isn’t as complicated. Some of Mr. Trump’s largestare energy CEOs. Because of the simple fact that Mr. Trump‘s friends likely want oil and natural gas to keep flowing across the border, it probably will. , could push down global prices, to the detriment of Canadian producers. But, according to Eric Nuttall of Ninepoint Partners LP, declining reserves in U.S. shale fields makes a sudden uptick in production unlikely.
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