Commentary
In supporting the concept of a pipeline corridor across Canada, Prime Minister Mark Carney shifted from his predecessor’s approach to oil and gas exports. Carney so far has shown signs of recognizing that if Canada could expand oil and gas exports into overseas markets, the nation wouldn’t be as vulnerable to tariffs and other trade clashes with the United States.
In 2023, 97 percent of Canada’s crude oil exports went to the United States, as did nearly 100 percent of the natural gas exports. Meanwhile, Canada purchased nearly $20 billion worth of foreign crude oil, most of which came from the United States….