Canada Proposed Doubling Oil Exports to US During Tariff Talks, Ambassador Says

Oil plan linked to trade talks
Hoekstra said this week that the goal was to deepen energy cooperation between the two countries in an atmosphere of economic uncertainty. Canada is already the biggest supplier of crude oil to the US.

The proposal was promoted as a way to boost North American energy security while generating jobs and investment on both sides of the border.

Trade talks stall
The plan to export oil was directly related to broader tariff negotiations, Hoekstra said. When those talks broke down, the energy proposal was shelved as well.

Both governments said trade is a work in progress, with differences still to resolve on manufacturing, agriculture and energy.

Energy bonds are still relevant
But energy experts say the partnership is too important to ignore, even with the bump. Every day, Canada ships millions of barrels of oil to refineries in the United States, and the flow has a big impact on fuel prices in the U.S.

Business leaders are listening.” Any changes to cross-border energy trade could have an impact on petrol prices and investment and economic growth in both countries.

Officials in Ottawa and Washington have indicated willingness to return to talks.