Trans Mountain CEO rejects disrupting U.S. oil exports
Trans Mountain CEO Mark Maki warned that using Canadian oil exports as leverage in the ongoing trade dispute with the U.S. would be mutually destructive. He emphasized the high level of economic interdependency between the two nations' energy sectors.
Why it matters
Energy security and trade relations are critical components of the North American economy, and retaliatory measures could have severe cross-border consequences.
CALGARY - Disrupting southbound oil exports in retaliation for U.S. tariffs is not viable and would have serious consequences for Canada, said the chief executive of Trans Mountain Corp. “Interdependencies between both countries are high,” Mark Maki said in an interview Friday following the release of the Crown corporation’s second-quarter results, which saw its pipeline to the Vancouver area running 94 per cent full. “I hope people put down the shovels here pretty quick. We’re hitting each other and we’ve got to stop that.” There have been calls to keep the option open of using Canada’s natural resources as leverage in the latest trade flare-up. U.S. tariffs of 50 per cent on an array of Canadian goods worth $28 billion are in effect after Canada walked away from talks last week. Canada has since announced plans to hit back with countertarrifs and U.S. President Donald Trump threatened further levies.
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