Trump’s threats to Canada, will create an environment where Canada may well choose to market its oil and gas reserves, overseas, as the availability of oil decreases over time. America’s oil reserves are quite limited, and the average American has virtually no understanding of how little oil is in reserve in the U.S.. America consumes more petroleum products (and oil products) than any nation on earth at 20.25 million barrels a day. It produces 12.9 million barrels a day.
But the most important fact is that America only has 4.9 times its annual consumption in reserves, which means in less than (5) years with the present consumption, America’s reserves will be exhausted.
At the same time, Canada, has immense reserves. Enough for 188 years of present consumption, which Canada should maintain for Canadian consumption in the years to come, like Norway. Canada has every right to do so, as a sovereign nation Canadians will decide where our resources are sold, if at all.
All that is required to change the status quo, is the political will to do so.
So what does this say about Donald Trump’s ignorant and arrogant statements of late?
Well, hopefully even Donald’s rudimentary intelligence should be able to see that pissing off the country that supplies you with 52% of your ‘current’ consumption shortfall, (which will increase dramatically in five years), — isn’t a particularly intelligent decision.
So keep it up Donald, and you may find America with some real, significant energy issues in the not too distant future. (As though they won’t exist in any event.)
And maybe Canada should reintroduce the NEP or National Energy Program as well. It would serve Canadian interests and nationalizing Canadian oil and gas, just as Norway had done, will increase Canada’s profits substantively, while improving the national GDP.
America deserves it. Americans seem so proud of Trump’s ignorance and arrogance. As for Trump, he’d be left trying to explain why American dependency on oil would negatively change America’s political and geopolitical influence for a very long time to come. However, the reality is that those who voted for him won’t understand until their oil and gas prices suddenly spike through the roof.
And that might just be the start. Electricity, water, and a host of strategic minerals could be next.
It’s now that Canada should pursue a new Canadian National Energy Policy, by Canada for Canadians. And the meme should be just that, “Buy Canada — For Canadians.”
It’s now time to act, as America no longer wants a friend and neighbour. So be it.
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