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Suncor Energy Inc
Symbol SU
Shares Issued 1,244,600,884
Close 2025-01-13 C$ 56.73
Market Cap C$ 70,606,208,149
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Globe says MEG, rivals see Smith reject energy embargo

2025-01-14 06:33 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Tuesday edition that Alberta Premier Danielle Smith is preparing for tariffs on Canadian oil and gas with no exceptions after U.S. president-elect Donald Trump takes office next week, but says she opposes Ottawa's suggestion it could retaliate by cutting off energy exports. The Globe's quadruple bylined item reports that Canada's response to Mr. Trump's tariff threat has been fragmented, with Alberta and Ontario taking opposing stances on retaliatory measures. Ms. Smith warns that using Alberta's energy as a negotiating tactic could lead to a "national unity crisis," while Ontario Premier Doug Ford argues Canada should be bold enough to consider curtailing energy exports. Ms. Smith says that an export ban would have supply consequences for Canadian provinces. She notes that Enbridge's Line 5 pipeline runs through Michigan to Ontario. Suspending exports would restrict oil shipments from Western Canada to Ontario and Quebec. Five major Canadian energy associations announced the formation of a joint working group to oppose Mr. Trump's threatened tariffs. The group aims to prevent tariffs on Canadian oil and natural gas exports to the U.S. and to mitigate the impact if tariffs are imposed.

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