The news that US president-elect Donald Trump could slap a 25% tariff on Canadian goods upon taking office in January sent a jolt of alarm through the entire Canadian economy, but the alarm in the oilpatch has only deepened as Ottawa and the provincial governments threaten to target energy exports in retaliation. Energy producers and fuel companies on both sides of the border are growing concerned that commodity flows could be disrupted if a tit-for-tat trade war erupts. …Canada is reliant on U.S. demand for its energy exports, but U.S. refineries have also grown increasingly dependent on Canadian crude. …The federal government said it is also considering retaliatory measures, including an export tax on key commodities, such as oil, potash and uranium, according to Bloomberg. …Trump’s proposed tariffs are also expected to increase energy bills in the northeastern U.S. and to raise electricity costs on both coasts where U.S. consumers are reliant on electricity and natural gas imports from Canada.
Sporting aviator sunglasses and standing in front of a lectern last month in Manaus, Brazil, in the heart of the Amazon, outgoing President Joe Biden spoke of the importance of safeguarding the world’s carbon-rich forests — a message he delivered numerous times throughout his tenure. …“Despite Biden’s rhetorical flourishes about the importance of preserving and restoring old-growth forest ecosystems, his administration has led the charge to open more and more of these areas to commercial logging,” said John Talberth, president and senior economist at the Center for Sustainable Economy (CSE), a nonprofit think tank. …The Forest Service did not respond to questions about whether it expects to finalize a national old-growth amendment before Trump’s inauguration on Jan. 20. …Agriculture Secretary Tom Vilsack told The Associated Press that it would be “a serious mistake for the country to take a step backwards now that we’ve taken significant steps forward.” …As long as the Forest Service remains under the Department of Agriculture, things are unlikely to change, Talberth said.