Oh! Canada Tariffs? We barely knew them…
By Paul Sankey
Published on February 1, 2025 at 3:02 PM
Who wins from Canada/Mexico oil tariffs? For sure we think consumers lose from higher pump prices given higher cost Canadian crude particularly in the US MidCon. Whether the oil tariff is +25% or +10% matters, as that will be the likely impact on Mid-Con pump prices. Short term winners, complex Gulf Coast refiners such as ExxonMobil, Valero, and Marathon Petroleum, although the latter is a loser in Mid-Con refining, as is Phillips 66 which also …