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So Canada is no longer the US's largest trading partner!?
Canada just fell to number two as America's largest trading partner. It was the top trading partner for decades. Most Canadians knew that, and of course most Americans didn't, they assumed China was. Well, now China is, so reality has finally caught up with the assumption. http://is.gd/VBOpFD
With the squashing of the Keystone XL pipeline, it makes it even harder for Canada to sell oil to the USA. (http://is.gd/umZAYt) Is this a blessing in disguise? During all of this time, it made absolutely no sense why they were trying to transport this heavy crude to the US gulf states, just to have the refiners down there refine it. Yes, those refineries were built purposely for this type of heavy crude. But the reason they were in the Gulf region was because they were designed to receive the similar type of heavy crude from Venezuela, not Canada. Why didn't Canada just build its own heavy crude refineries and sell it off themselves directly to the world? I think this over-reliance on the US trade for so many decades has created this lack of self-reliance and initiative in Canada.
Build the pipeline through Canada instead and refine it entirely within Canada. New Prime Minister Justin Trudeau can finish off the work his father Prime Minister Pierre Trudeau started to reduce Canadian dependence on the US, and now it may finally happen. What do you guys think?
- lareLv 76 years agoFavorite Answer
Canadian companies already have about 4 crude oil pipelines going to America to sell crude without the Keystone XL. Indeed, one of them developed a 6 foot gash and created the largest (and most expensive) oil spill in North America in 2010. It closed down the Kalamazoo River for over a year and the clean up is still on-going. None of the crude in the Keystone XL was slated for sale to the United States, China is the new buyer of Canadian crude. Shipping Alberta tarsand production to the Pacific Coast has proved difficult and costly. So the XL was to route it south and ship it out the Caribbean to China. Bottom line, the XL has zero impact on American Canadian trade. It might have boosted trade to America indirectly if Canadians decided to spend profits from China for American goods. Canada (and Mexico) are among the trading partners in the new Trans-Pacific pact. Asia represents a better market for Canada than America ultimately as Asia moves into the modern era and develops a strong middle class economy. It is time to pivot to Asia generally, and not just China.
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- xpatinasiaLv 76 years ago
The KXL has nothing to do with it.