Commentary by @NHAunleashed on X:
As the trade wars are kinetic and the US will levy 10% tariffs on Canadian oil and gas I’m seeing the typical low IQ comebacks from Trump cult which need to addressed again.
Drill baby drill
There is no appetite to drill more in America and I have said this for months because I literally see capital spending plans of big oil. Drilling in America will be flat in 2025. The expansion will be the Middle East and parts of Africa. With artificial lift technology the same wells can produce for decades so the rig count won’t increase.
Even if we could drill more we produce LIGHT crude oil and our refineries are mostly set up for heavy crude oil.
60% of our oil imports are from Canada and it’s the heavy crude we need for our refineries. Heck they sell it to us at below market prices.
So NO we can’t drill baby drill our way out of this. We buy heavy crude from Canada or Muslim countries who fund terrorists. To me it’s a clear choice.
Keystone pipeline
The pipeline is not completed and the Canadian contractor who was building it has abandoned the project.
Even if the pipeline was built it doesn’t produce new oil and it would – wait for it – bring Canadian oil to Texas.
Get ready for a gas price hike of between .25 to .75 cents and maybe a dollar very soon…like this week.
This is the dumbest trade war in history all because one megalomaniac narcissist called Trump thinks tariffs as the panacea to every problem in the world.