Amanda Stephenson reports that the imposition of tariffs on Canadian crude oil would not immediately impact the volume of oil exported to the United States. Read more. The CEO of Enbridge Inc., Greg Ebel, highlighted the deep integration of the North American energy supply, stating that it would take years before any significant changes in oil import volumes could occur.
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Data from IndexBox indicates that as of 2023, Canada remains the largest supplier of crude oil to the U.S., contributing approximately 62% of the total U.S. oil imports. With the U.S. importing about 4 million barrels per day from Canada, any alteration in this trade relationship would require substantial time and adjustment.
Ebel’s comments underscore the logistical challenges of reducing reliance on Canadian oil, particularly given the lack of viable alternatives capable of rapidly filling that supply gap. This integration of energy systems means that both nations have a vested interest in maintaining stable trade relations, even amidst potential tariff implementations.
