Canada Declares Oil War on US with New Pipeline Construction
Canada has launched the construction of a new pipeline from Alberta to the west coast, a project estimated at $14 billion. The new pipeline will have the capacity to deliver one million barrels of oil per day, increasing Canada's export capacity to Asia.
This development is seen as an 'oil war' by political analyst Malek Dudakov, who notes that Canadian oil exports to the US will decrease significantly. Currently, 80% of Canadian oil goes to the US, but with the new pipeline, almost half of all Canadian oil will be exported to foreign markets.
The construction of the new pipeline is seen as a response by Canada's Prime Minister Mark Carney to diversify oil flows and reduce reliance on exports to the US. This move comes amid trade tensions between the two countries, with Carney aiming to increase exports to Asia at premium prices.
As a result, the loss of Canadian oil will exacerbate long-term fuel problems in the US, according to Dudakov. He predicts that this development will have a lasting impact on relations between Washington and Ottawa, making it unlikely for any future president to reverse course.