In a statement the American Petroleum Institute President and CEO Mike Sommers said while the United States is the world’s largest oil refineries, U.S. refineries, rely on Canadian crude to produce gasoline, diesel and jet fuel. Sommers notes that those products are critical for transportation, agriculture and American consumers. As well, the U.S. is the largest market for Canadian crude oil exports and Mexico is the number one destination for refined products exported from the United States.
Sommers says, “Energy markets are highly integrated, and free and fair trade across our borders is critical for delivering affordable, reliable energy to U.S. consumers.”
CAPP, the Canadian Association of Petroleum Producers, also in a statement issued Saturday, said no-one wins with the introduction of tariffs on Canadian energy. CAPP says the tariffs undermine mutually beneficial relationship.
President and CEO Lisa Baiton says it is difficult to predict how the application of a tariff on Canadian oil and gas will impact supply, demand and trade patterns because of the complexity of North American and global oil and natural markets.
Baiton says their organization needs time to better understand how the tariffs will be applied and their impact before commenting further.