A Plug in the Pipeline: Keystone XL Revival Tempered by Tariff Talk

The Epoch Times Header

Canada disavows its U.S. dependence while Trump applies trade leverage in affirming that to the victor goes the oils.

President-elect Donald Trump has vowed to issue a day-one executive order to restore federal approvals for the proposed Keystone XL Pipeline while also pledging to slap tariffs on Canadian imports.

“It’s kind of a confusing moment,” Toronto commodity analyst Rory Johnston, founder of CommodityContext.com, told The Epoch Times.

“You have, on one hand, [Trump] saying he wants free trade to reduce energy prices for consumers, while at the same time, on the other hand, threatening to throw tariffs on the barrel that would, presumably, flow through that pipeline, increasing prices for consumers.”

Trump has the leverage to play both hands. In 2022, Canada exported 82 percent of its crude oil, according to Canada Energy Regulator, with more than 83 percent of that export volume sent to the United States.

The president-elect’s musings about imposing a 25 percent tariff on Canadian imports shows he’s applying that leverage, Johnston said, which has “everyone north of the border” discussing strategies “to further diversify our risk away” from the United States because, right now, nearly all pipelines beeline south.

The Canadian Association of Petroleum Producers referred The Epoch Times to a Dec. 18 Op-Ed by its president and CEO, Lisa Baiton, that calls for the Canadian government to invest more in expanding the nation’s domestic capacity to refine and ship crude.

Canadian producers annually sell more than $150 billion in petroleum products to the United States, “our biggest, and in some cases, only customer for almost every good this country produces,” she writes.

That relationship no longer works, Baiton said. “Because of this reliance on one customer, Canada has little negotiating power with the Americans,” she writes, calling for initiatives to “build a tariff-proof economy.”

“It’s time to build more transportation routes to new markets, LNG export facilities, pipelines and port expansions, so we are no longer beholden to a single customer,” Baiton said.

Johnston said “it is possible” Trump’s promised executive order will quickly induce Canadian producers into resubmitting a new pipeline proposal to open more pipeline access and broaden shipping capacity.

By John Haughey

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Columns

Justice Delayed is Justice Denied, Prosecute Jeffrey Goldberg!

Jeffrey Goldberg reported on his mistaken inclusion in a signal chat as a hit piece on Trump. Should he be prosecuted under the Espionage Act?

Zelensky Has No Feasible Alternative To Accepting Trump’s Lopsided Resource Deal

Trump warned Zelensky he will have “some problems – big, big problems” if he “tries to back out of the rare earth deal” amidst reports agreement is lopsided.

DOGE and Musk Recover Deleted Computer Files

Elon Musk and his “Geek Squad” discovered an entire terabyte of data was deleted from government servers from the office of the “Institute of Peace”.

A Simple Question

What is a woman? Anyone with an IQ above room temperature can answer the question. Everyone, that is, except Democrats.

Democrats Tesla Takedown is a Proven Astro Turf Movement

Elon Musk and other journalistic leaders like Joe Rogan have been asking the critical question, “Who is behind the organization of these Tesla protests?”

News

Stellantis Pausing Production at Canada, Mexico Plants; 900 US Workers Temporarily Laid Off

Stellantis is pausing production at two assembly plants in Canada and Mexico, resulting in temporary layoffs at five U.S. facilities that supply them.

States to Certify Anti-Discrimination Commitment or Lose Federal Education Funding

State ed. agencies must certify that schools under their jurisdiction are not discriminating based on race or national origin for future federal funding.

Pentagon Watchdog Launches Investigation Into Hegseth Over Use of Signal

The inspector general for the Department of Defense is investigating Defense Secretary Pete Hegseth over his use of the messaging app Signal.

Court Dismisses Appeal of Order Blocking DOGE From Social Security

An appeals court this week dismissed the Trump administration’s appeal of a lower court order that blocked the DOGE from obtaining Social Security data.

US Layoffs Top 275,000 in March, Driven by Government Job Cuts: Report

Layoffs announced by U.S.-based employers soared in March to highest level since COVID-19 pandemic, with govt job cuts accounting for most headcount reduction.

Dow Jones Drops 1,500 Points a Day After Trump Tariff Announcement

U.S. stock indexes dropped after Trump's sweeping tariffs of 10 percent or higher, with Dow Jones plunging by 1,500 points at one point in early trading.

ACLU Sues Trump Admin Over Canceled Grants Tied to DEI, Gender Identity Research

ACLU, public health orgs, unions, and researchers, filed federal lawsuit accusing NIH of unlawfully canceling research grants due to political and ideological pressure.

US Immigration Services Drops 3rd Gender Option

US immigration services agency officially updated policy to recognize only two biological sexes—male and female—for all immigration-related doc and benefit requests.
spot_img

Related Articles

Popular Categories

MAGA Business Central