Trump’s Oil & Lumber Trade War: Economic Suicide or Political Posturing?
Trump’s assertion that the USA doesn’t need Canadian oil, gas, autos, or lumber is baffling, given the extensive economic interdependence between the two countries. The sheer volume of Canadian energy products consumed in the US refutes this claim; a significant portion of American gas, for instance, is derived from Canadian oil. Our refineries are specifically designed to process the type of crude oil Canada and other nations like Saudi Arabia produce, making a swift transition to solely processing domestically sourced oil highly impractical and expensive. Such a shift would likely lead to significant disruptions in fuel supply and a considerable spike in gas prices for American consumers.… Continue reading
Matt Underwood