Musings —01.18.2017 01:13 PM—
This is the point I was trying to make on Evan’s radio show on CFRA this week: who gives a shit about Keystone when the Unpresident does this? It’ll make the NEP look like a romp in the park.
Get it, yet, Canadian conservatives? Tired of kissing Trump’s fat orange ass? You will be, soon enough.
From my former Herald colleague Caludia, here.
Canadian oil and gas producers happy to see the end of the Obama era are quickly coming to the realization that the imminent Trump presidency could be even more challenging if he moves forward with the adoption of a border adjustment tax.
While other Canadian sectors have been vocal in condemning the proposal, “no sector … will be more affected than petroleum,” according to Colorado-based energy expert Philip Verleger, who has been studying the recommended U.S. tax code changes since last summer.
Verleger, principal of consultancy PKVerleger LLC, believes Canadian exporters of oil and oil products are in for a nasty surprise.
“Bluntly speaking, for oil the law’s passage is pure mercantilism. Exporters from Mexico, Canada, and the rest of the world could be shut out,” Verleger writes this week in a report to clients. “As Woody Allen would say, ‘Sorry, suckers’.”