They may have listened. Have since seen the CP article posted with a corrected headline: globalnews.ca/news/1109076...

Who pays for tariffs depends on factors beyond the transaction at the border. Model results and real-world data for key commodities show the true impact depends on how easily industry can pivot from the status quo. 6/6

On the energy front, prices of Canadian heavy crude (WCS) have seen an increased discount to U.S. benchmarks after the tariff announcement. This discount has tightened in recent weeks but expect to see it widen again if energy tariffs are confirmed. 5/6

Real world data backs this up! U.S. import tariffs on steel in 2018 caused steel prices to rise over 10%. Among the recent threats, several steel suppliers have announced price increases, with U.S. futures for hot-rolled steel coil jumping by as much as 25% since the beginning of Feb. 4/6

Prices of metals, such as steel and aluminum, are expected to increase in the U.S. in response to import tariffs, while Canadian oil and gas producers are expected to respond with discounts to compete in the U.S. market due to limited alternatives 3/6

Navius modeling on the price impact of tariffs shows the cost burden is shared based on how easily importers can find alternative sources for goods and whether exporters can redirect foreign demand 2/6

Woah. That would bring the number of 50m public indoor pools in Vancouver down to one (?) excl. UBC. Surprised not to see more coverage of this @vancouversun.bsky.social

We found a dozen commodity groups that when tariffed at 25% affect the US economy by $80bn more than Canada

Read more here: t.co/SKLMQYFHa4

Economics and politics are tied at the hip. Consider a Canadian retaliation that halts energy exports to the US. Two thirds of that oil is used in refineries in PADD 2 i.e. the Midwest. I cannot see Washington tolerating sky high gas prices in Michigan and Wisconsin for very long. Just my two cents

@naviusresearch.bsky.social

*for new units. Existing cogen units are allowed to deduct GHGs from onsite consumption until 2050

I believe this is correct. BTF cogen units (consumption >= generation) are excluded; all elec emissions from net exporting cogen are covered

Great work Brett. And congrats on the feature in the RIAS