Crude oil prices still went up today which means the market expects this is a short term band-aid and uncertainty of the Iran war is still there.
Besides we’re all going to pay for this eventually. These nations need to replenish their supplies later which means elevated prices in the foreseeable future.
Amtoj on
I’m not a fan of all these countries having to release oil reserves just because Trump didn’t think more than a step ahead with his bombing campaign.
We really need to electrify our economy as much as possible to avoid these shocks. That doesn’t mean ending the oil sands, by the way. I’m just talking about building up EV infrastructure and getting that high-speed rail done since it’s electric.
Edit: Fixed some grammar.
Livid_Page_7244 on
It doesn’t matter if Canada promises more oil barrels to the world, their current infrastructure cannot simply “send more oil”.
The supply chains are already at maximum output, there’s no high speed rail or even enough railways in use to increase the sale and distribution.
Our refinement is also largely dependent on other nations, including the United States.
Factually, these are promises the government can’t keep.
Just because I want and say, my Kia will win a nascar race
doesn’t make it so.
Artifical-Life-0101 on
*nooo!, not our Maple Syrup!*
BoogeyManSavage on
Equivalent of 4 days worth of oil – are they banking on this finishing in the next 4 days?
Floortom1000 on
This is a symbolic gesture but really accomplishes nothing re: pricing. Until normal traffic through the Strait resumes nothing else matters
Moist-Fortune6277 on
Is US one of those nations?
Cool-Pollution-6531 on
Please tell me we 31 nations are not supplying USA and Israel
gcerullo on
As long as our strategic reserves of maple syrup are not touched I’m okay with this.
9 Comments
Crude oil prices still went up today which means the market expects this is a short term band-aid and uncertainty of the Iran war is still there.
Besides we’re all going to pay for this eventually. These nations need to replenish their supplies later which means elevated prices in the foreseeable future.
I’m not a fan of all these countries having to release oil reserves just because Trump didn’t think more than a step ahead with his bombing campaign.
We really need to electrify our economy as much as possible to avoid these shocks. That doesn’t mean ending the oil sands, by the way. I’m just talking about building up EV infrastructure and getting that high-speed rail done since it’s electric.
Edit: Fixed some grammar.
It doesn’t matter if Canada promises more oil barrels to the world, their current infrastructure cannot simply “send more oil”.
The supply chains are already at maximum output, there’s no high speed rail or even enough railways in use to increase the sale and distribution.
Our refinement is also largely dependent on other nations, including the United States.
Factually, these are promises the government can’t keep.
Just because I want and say, my Kia will win a nascar race
doesn’t make it so.
*nooo!, not our Maple Syrup!*
Equivalent of 4 days worth of oil – are they banking on this finishing in the next 4 days?
This is a symbolic gesture but really accomplishes nothing re: pricing. Until normal traffic through the Strait resumes nothing else matters
Is US one of those nations?
Please tell me we 31 nations are not supplying USA and Israel
As long as our strategic reserves of maple syrup are not touched I’m okay with this.