Analysis of current economic conditions and policy
US-Canada Oil & Gas Trade
From Census via ITA:
Figure 1: US exports of oil and gas to Canada (blue), US imports of oil and gas from Canada (red), mn.$. Source: Census via ITA.
2 thoughts on “US-Canada Oil & Gas Trade”
James
Tariff Tom Tiffany, WI GOP Steil, Derrick Van Orden, Scott Fitzgerald, Glenn Grothman, Tony Wied and Ron (lives in D.C. and Florida – most of the year) Johnson fully support Trumps chaotic and disruptive trade war with Wisconsin’s largest international trade partner. It is impacting Wisconsin supply chains. With a 50% tax now levied on Canadian paper products, lumber, and aluminum, basic input costs have skyrocketed. The GOP is disrupting large segments of the economies of Wisconsin, Michigan, Ohio, Illinois, New York, and Maine – among others. Also the 10% additional tax on Canadian crude for refining into already scare diesel in time for harvest here in Wisconsin – Tariff Tom and Trump did that. Leave it to the GOP for messing up what was a great economy under Biden and Democrats. Data show the GOP screws the U.S. economy every time.
Anonymoust
And? So?
I am an Adam Smith guy. Countries export what they have excess of…and the converse.
Like why is this particular chart being shown, versus umptysquat import/exports from Neverheardofitstan?
There is also sort of an interesting feature with Canada in that they don’t have good access to markets other than us. Sort of a monopsony almost for their excess oil, given the limited pipes to the coast that they have.
If you look at natural gas it is even more interesting. We have net imports from Canada, sure. But…we are also a pretty large net exporter to the world. It’s just the nature of the piping systems. (and them having more gas than they need…but so do we). “Need” being a word like “shortage” that an economist shouldn’t use. But…ya get me. [prices can even go negative in Alberta gas markets….sort of like Waha in the Permian.]
Tariff Tom Tiffany, WI GOP Steil, Derrick Van Orden, Scott Fitzgerald, Glenn Grothman, Tony Wied and Ron (lives in D.C. and Florida – most of the year) Johnson fully support Trumps chaotic and disruptive trade war with Wisconsin’s largest international trade partner. It is impacting Wisconsin supply chains. With a 50% tax now levied on Canadian paper products, lumber, and aluminum, basic input costs have skyrocketed. The GOP is disrupting large segments of the economies of Wisconsin, Michigan, Ohio, Illinois, New York, and Maine – among others. Also the 10% additional tax on Canadian crude for refining into already scare diesel in time for harvest here in Wisconsin – Tariff Tom and Trump did that. Leave it to the GOP for messing up what was a great economy under Biden and Democrats. Data show the GOP screws the U.S. economy every time.
And? So?
I am an Adam Smith guy. Countries export what they have excess of…and the converse.
Like why is this particular chart being shown, versus umptysquat import/exports from Neverheardofitstan?
There is also sort of an interesting feature with Canada in that they don’t have good access to markets other than us. Sort of a monopsony almost for their excess oil, given the limited pipes to the coast that they have.
If you look at natural gas it is even more interesting. We have net imports from Canada, sure. But…we are also a pretty large net exporter to the world. It’s just the nature of the piping systems. (and them having more gas than they need…but so do we). “Need” being a word like “shortage” that an economist shouldn’t use. But…ya get me. [prices can even go negative in Alberta gas markets….sort of like Waha in the Permian.]