This week on the podcast, Jackie and Peter start by talking about Jackie’s recent op-ed in the Globe and Mail, titled “Yes, absolutely – Canada needs more oil and gas pipelines to our coasts,” also available on the ARC Energy Research Institute website.
Next, Peter and Jackie review the fundamentals of oil prices, the muted effect of the 12-day Iran-Israel war, and why oil prices have been creeping up despite weaker short-term fundamentals. Peter argues that the growing importance of “geoeconomics” - where countries use economic tools to influence foreign affairs - means that predicting oil prices will no longer be just about counting barrels. In the future, one of the most significant factors shaping oil markets will be the geoeconomic strategies of nations, including actions such as sanctions, tariffs, and withholding supply.
Finally, Jackie and Peter discuss President Trump’s recent letters to numerous countries threatening higher tariffs effective August 1st, including a letter to Canada with 35% tariffs on Canadian goods. Washington also introduced global copper tariffs.
This is the last podcast before a break; the podcast will resume at the end of summer.
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