Tariff Silver Lining: Midwest Refineries Ready to Use M-U Crude
Donald Trump threatened and was prepared to implement a 25% tariff on both Mexico and Canada, including a 10% tariff (tax) on incoming oil and natural gas (and other energy) from Canada (see Trump Slaps Canada & Mexico with Tariffs, Including 10% on O&G). It took about 10 minutes for Mexico’s president to get on the horn with Trump and agree to implement plans to avoid the tariff. It took Canada about a day to do the same (Justin Trudeau is a petulant man-child, very stubborn). However, before we knew whether or not Canada would fold like a cheap suit, oil refineries operated by Marathon Petroleum in the Midwest were making plans to switch away from using heavy crude from Canada and replacing it with light sweet crude from the U.S., including crude from the Marcellus/Utica. Read More “Tariff Silver Lining: Midwest Refineries Ready to Use M-U Crude”