The Obama presidency could affect Canada’s oil industry, as the
president-elect has said he will fight America’s “addiction” to dirty
oil, which could include crude from Alberta’s oilsands.
“The so-called dirty fuel has been a hot-button issue on the
campaign trail and I think it bears watching if an Obama presidency
discriminates against imports from the oilsands,” said BMO Capital
Markets economist Doug Porter.
But Ferley said Obama has also talked about reducing America’s dependence on oil from the Middle East.
“I’m inclined to be optimistic,” he said. “Given the U.S. needs for
oil, given the vast deposits that are available in the oilsands, I
think that reality is hard to ignore.”