View from Canada by Eric Nuttall - Feb 8

[dan_s]

https://www.youtube.com/watch?v=L1Cll7q2CZ8

Tariffs on Canadian oil and gas exports will not be enforced by Trump as long as Justin Trudeau does what he promised Trump that he would do to reduce fentanyl exports from Canada to the U.S.

During Biden's 4 years as the puppet in the White House, over 400,000 Americans have died from fentanyl overdoses. That is about the same number of Americans that were killed in World War II. More fentanyl comes into America from Canada than from Mexico.

Eric thinks oil prices will go $15/bbl higher once the FEAR of tariffs fades away. HFI Research forecasts that WTI will spike to $90/bbl in Q3 2024. I'm not that bullish, but I to think we see $80/bbl WTI this summer. Oil demand is seasonal. From February to June, demand for oil-based transportation fuels goes up by 2 million bpd each year. Plus, it takes more crude oil to produce summer blend gasolines.