COMMENTARY: Tariff Shock, Natural Gas Storage Update & More - William Lacey - Canadian Energy News, Top Headlines, Commentaries, Features & Events

Global Investors Upon Opening their Portfolios

Thanks Donald…no, really….

Apparently the tariffs that were announced actually have no real basis in reality (surprise!) but rather reflect the trade deficit that the United States has with that particular nation.

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For example: The trade deficit with China $295.4 billion / US imports from China $438.9 billion = 67%; Japan: $68.1 billion / $148.1 billion = 46%…

But hey, good news, Canada and Mexico got spared from the gallows and will be governed by the “best trade agreement ever!”, namely the CUSMA agreement.

US Weekly Gas Storage Data

The latest gas storage data for the US is out and showed a build of 29 bcf, slightly ahead of consensus expectations of 27 bcf (neutral), but well ahead of the 5 year average (12 bcf draw).

And Finally…

As they say, a picture is worth a thousand words, and broadly sums up what I said a couple weeks ago. Enjoy the repreve while it lasts, because if you assume that Carney will win the election, the carbon tax will be back with a vengeance (note that none of the supporting infrastructure for the tax rebates have been removed, rather they have effectively been put on pause).