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Imperial Oil Ltd
Symbol IMO
Shares Issued 517,860,941
Close 2024-11-27 C$ 102.69
Market Cap C$ 53,179,140,031
Recent Sedar Documents

Globe says Trump plan surprises Suncor, rivals

2024-11-27 08:23 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Wednesday, Nov. 27, edition that Canada's energy industry was caught off guard by U.S. president-elect Donald Trump's threat of sweeping tariffs on imports, which could disrupt free trade in oil and gas, reduce production, and raise fuel prices for American consumers. The Globe's Jeffrey Jones and Emma Graney write that while the mention of 25-per-cent import duties on Canadian and Mexican products did not specifically address oil and gas, the sector was unprepared for such strong rhetoric before Mr. Trump took office, complicating its relationship with the Canadian federal government. On Tuesday Canadian Association of Petroleum Producers chief executive officer Lisa Baiton said: "The Canada-U.S. energy partnership is more than 100 years old and is highly correlated to national security, energy security, economic security and geopolitical security. As such, we must do everything in our power to protect and preserve this energy partnership ... A 25-per-cent tariff on oil and natural gas would likely result in lower production in Canada and higher gasoline and energy costs to American consumers while threatening North American energy security."

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