More imports from Canada to increase our trade deficit.
The US exports oil as well. Not only that, some of that oil from Canada would probably have made it into the US anyway, so this is sort of a push > IMO.
https://www.americangeosciences.org/critical-issues/faq/how-much-oil-does-us-export-and-import
Maybe, imports from Canada might be reducing our imports from less friendly countries.
In any event it's energy which is a key component of the economy.
More crude from Canada to increase our refinery business and GDP.
There. Fixed it.
Your comment is just plain stupid.
Yes, we will import more oil from Canada of heavy crude oil. Most of the oil from fracking in Texas and ND is light sweet crude. It is a different type of oil. So, this will make Canadian oil less expensive delivered to the refineries in LA & TX that have excess capacity to make VALUE ADDED products that we will then potentially export.
It will hurt Venezuela and other producers of heavy crude oil. It will also allow US refineries to pay more FOB Alberta than other companies because the freight/barrel will go down. Therefore, US companies can afford to pay more than Chinese. What it will also hurt are the US refineries in WA and California. Their US competitors will be able to pay more than the used to.
You have to look at where the current oil pipelines go. All of the pipelines coming from Alberta are full. This expansion gives a freight advantage to companies down line from Cushing, OK(THE MAIN JUNCTION). The current pipeline going west from Alberta to Vancouver is full.
Trans Canada wanted to build another pipeline to the BC coast. That is held up. If that was built, it would greatly reduce the cost to get the oil loaded on a super tanker. Any refinery on the Pacific Ocean would benefit. Whether it is in California, Japan, Korea or China. It also would hurt Alaska oil profits.
Oil is a fungible commodity. It is going to end up somewhere. This pipeline will increase imports from Canada. A friendly neighbor with a democratically elected parliamentary government.
It will reduce imports from countries that are run by dictators.
The more oil supply on the world market, the lower price for everyone. Iran, Venezuela, Russia and others are hurt by too much supply.
For decades Canadian oil has expanded it’s role as oil imports from Venezuela and Mexico declined. The heavy oil is a match for existing refinery as engineered more than fifty years ago. For existing equipment and process, shale oil is not a proper feed-stock to gain the desired mix of refined products. We import the heavy oil at a heavy discount, and export shale oil at a premium price. Shale oil works well for European refiners.
Because of politically driven actions against pipelines, Warren Buffet gained a profit windfall, shipping Canadian oil by BNSF rail. More oil has been spilled and lives lost from rail accidents, than would have occurred with new pipeline.
WASCWatch provided an excellent response, which neatly summarizes several other, more substantive responses to your post. I agree with them, and would add a reminder that unfettered access to Canadian energy (oil, gas, and electricity) was the main thing that President Reagan wanted (and got) from the original Canada US Free Trade Agreement. Those same provisions were included in NAFTA, a few years later. That North American pool of energy resources was a strategic asset for the US (just as the US defense umbrella remains a strategic asset for Canada). It allowed successive Presidents to stand up to the likes of Iran and Venezuela, without fear of being cut off from critical oil supplies. It has also kept the OPEC cartel in check.
Pissing in your cereal?
Take a break from the waterworks and maybe hit a “Donate” button....will help your perspective.
Exports were $360.5 billion; imports were $353.6 billion. The U.S. goods and services trade surplus with Canada was $7.0 billion in 2018. However, the international shipment of non-U.S. goods through the United States can make standard measures of bilateral trade balances potentially misleading.
do some research before you pop off.