Canada, the world’s fourth-largest oil producer, sends about 90% of its oil exports to the U.S., but tensions between the countries are escalating, reports Reuters.
Trump imposed a 50% tariff on $20 billion worth of Canadian goods last week, and repeatedly angers Canadians with lies, insults, and expressed threats to the country’s economy and sovereignty.
The situation has highlighted the need for Canada to diversify its exports, something the west coast pipeline proposal would do by increasing Canadian oil shippers’ access to Asia, Trans Mountain CEO Mark Maki said.
“Events around us have made (the west coast pipeline) much more urgent, and I think that’s actually good. It’s helpful,” he said.
The 890,000-barrel-per-day Trans Mountain pipeline is the only east-west oil export pipeline in Canada. The Canadian government tripled its capacity in 2024