“Look, Mexico and Canada have never been good to us on trade,” he continued. “They’ve treated us very unfairly on trade, and we will be able to make that up very quickly because we don’t need the products that they have.”
The United States is one of the world’s largest oil producers, producing enough crude oil for domestic consumption and exporting millions of barrels daily. In 2023, it exported just over 10 million barrels per day, or b/d, of petroleum to 173 countries and three US territories.
Yet, the US also imports roughly 8 million b/d, mostly heavy crude,60% of which comes from Canada, up from 33% in 2013. US oil refining capacity stood at 18.4 million barrels per day (b/d) as of Jan. 1, 2024. This may seem counterintuitive, but there are several reasons why the US still relies on imports.
That says that 60% of the oil the USA imports comes from Camada, not that the USA imports 60% of its oil from Canada.
Maybe I’m not reading it the way others would. I would have understood “The US imports 60% of its oil from Canada” to mean that 60% of the oil the USA consumes comes from Canada, not 60% of the oil the USA imports.
The Agreement between the United States of America, Mexico, and Canada (USMCA) was entered into force on July, 1, 2020, under the USMCA Implementation Act, H.R. 5430; Public Law 116-113. It replaces the North American Free Trade Agreement (NAFTA) which was in force from January 1, 1994 to June 30, 2020.
Hahahahaha…oh god, comedy heaven!
…Wait, what do you mean this is not the onion?
The U.S. imports 60% of its oil from Canada.
https://www.gzeromedia.com/gzero-north/why-does-the-us-import-oil-despite-producing-enough-for-its-needs
That says that 60% of the oil the USA imports comes from Camada, not that the USA imports 60% of its oil from Canada.
Sorry… what’s the difference? Both are about how much of the oil the U.S. imports comes from Canada.
Maybe I’m not reading it the way others would. I would have understood “The US imports 60% of its oil from Canada” to mean that 60% of the oil the USA consumes comes from Canada, not 60% of the oil the USA imports.
I lost track isn’t Canada a reliable exporter of medical isotopes too?
Edit hmm seems the us imports alot of those https://healthimaging.com/topics/medical-imaging/molecular-imaging/why-us-still-dependent-foreign-medical-isotope-production
Tariffs on oil and microchips, should make a nice dent in cost of living.
“We don’t need the products that they have but we might not tax oil coming from Canada… Because… We… Eeeh… Don’t need it?”
Hmm who was president in 2020?
https://www.cbp.gov/trade/priority-issues/trade-agreements/free-trade-agreements/USMCA/FAQs
The USMCA was signed by Trump in 2018 (revised version signed in 2019). Implementation didn’t occur until 2020.
https://en.m.wikipedia.org/wiki/United_States–Mexico–Canada_Agreement
I know, it’s crazy how his supporters don’t put two and two together. HE MADE THE TRADE DEAL HE’S SUPPOSEDLY GETTING SHAFTED ON!