Energy
Friday, November 8th, 2024 4:22 pm EDT
Key Points
- Trump’s approach and Canada’s response: The Globe and Mail highlights Donald Trump’s transactional negotiating style, emphasizing his use of tariffs and climate skepticism. Canada must adopt a pragmatic, cold-eyed approach in its negotiations, particularly regarding its oil exports.
- Scrapping emissions cap on oil: The editorial argues that Canada should eliminate the complex oil emissions cap introduced recently, as no other country has a similar policy. Instead, Canada should focus on more effective measures like stronger government oversight, a robust carbon tax, and tighter methane regulations.
- Diversifying exports and strengthening bargaining power: The Globe suggests that Canada should reduce dependence on the U.S. and focus on diversifying its oil exports, such as through the Trans Mountain pipeline, to the Pacific. This move strengthens Canada’s economic position and bargaining power in the face of potential future challenges.
The Globe and Mail reports in its Friday, Nov. 8, edition that Donald Trump aims to disrupt everything with big tariffs and climate skepticism, but at his core, he is a transactional negotiator who enjoys bargaining and winning. A Globe editorial says that as Canada defends its economic interests in the challenging times ahead, we must adopt a cold-eyed realpolitik at the negotiating table, starting with oil, our top export. Canada should scrap the complex oil emissions cap introduced on Monday, as no other country has one. Oil companies need to invest more in climate for long-term viability, but stronger government oversight, a robust carbon tax, and tighter methane rules are the more effective solutions already in place. Both are constitutionally validated by legal precedent. The Globe says in this new world of a second and unbridled Trump presidency, it is time to muscle up. The Globe says be unCanadian. It says no more sorrys. Act like a winner. Mr. Trump’s win reignited talk of the Keystone pipeline, which is a distraction. Canada should avoid further ties with America. Diversifying exports, like oil flowing to the Pacific via the new Trans Mountain pipeline, is boosting economic strength and bargaining power.
