Imported Russian Oil Banned: Et Tu Trudeau?

March 8, 2022March 9, 2022 ~ Loreeebee ~ 2 Comments

U.S. President Joe Biden just announced a ban on imported Russian oil into his country. Is it the right thing to do? This latest sanction is to show support for Ukraine and disdain for Russia’s invasion of Ukraine. Will Canada’s Prime Minister Trudeau follow suit?

Global Oil Reserves

Like it or not, crude oil is (currently) the main source of energy around the world. Until that changes (if it ever changes) oil reserves are a huge commodity. Which countries have the most oil reserves? This list from World Population Review shows the current (2022 data) facts…

These facts are deceiving, however. For example, Venezuela’s oil is predominantly offshore so fairly difficult to access. Saudi Arabia’s oil, on the other hand, is located inland and close to the land surface. Crude oil reserves are based not only on quantity but how readily accessible the reserves are with current technology. Regardless, you can see the general position of countries within this list of proven oil reserves. Canada is near the top, the USA is below number ten.

Oil Imports and Exports

So, from this I’m gathering Biden’s sanction banning imported Russian oil won’t have much of an impact on Russia. According to EIA the USA imports most of its oil from Canada:

Canada remained the largest exporter of total petroleum to the United States in December; exporting 4.8 million b/d. The second largest exporter of total petroleum was Mexico with 645,000 b/d.
EIA, December 2021

Canada also imports very little oil from Russia, so an imported oil sanction by Trudeau would be more symbolic (like Biden’s) than catastrophic for Putin and Russia. It might poke the bear though.

Canada sits at the top of the list of crude oil importers (predominantly from Saudi Arabia), according to the EIA:

While one of Canada’s biggest exports is, you guessed it, crude oil. This data is from Investopedia:

Are you confused yet? Canada is at the top of the list for its impressive oil reserves, something a cold-weather country should aim to be. We also sit at the top of the exporting of oil list, which economically is great. Isn’t it? But wait, we are also at the top of the imported oil list. How is that economical? Granted, I’m no economist, but I did excel in accounting 101. I am confused, not to mention annoyed and frustrated.

Using Canadian Oil Instead of Imported Oil?

This topic has come up before with Trudeau’s resistance to approving pipelines between the oil reserves in the west for use in the eastern provinces. (Most) Canadians would prefer to use the oil we have, rather than depend on foreign countries for their supply. The Russian invasion of Ukraine just emphasizes this opinion.

The National Post has a great but sad explanation:

So proud is the Trudeau government of its action on environmental stewardship and climate change that it essentially does the Saudis’ dirty work for them. By tightening the screws on domestic Canadian production while seeing an increase in Saudi-originating imports we are helping to accelerate the rate of our own energy-sector’s decline.
National Post

Huawei Worries: Are They Warranted?

December 10, 2018February 11, 2022 ~ Loreeebee ~ 1 Comment

Huawei is a HUGE manufacturer of technology components, (reportedly) capable of “invading” the industry globally. The problem is, they are based in China whose government has relationships with the rest of the world on shaky ground these days.

Why Worry?

Morning Brew, my newest addiction, has listed five (potential) reasons (from the MIT Technology Review) in today’s edition:

Kill switches: Huawei builds networks carrying data for power grids, financial markets, etc. And some fear the Chinese government could sneak “back doors” into Huawei’s gear with the ability to weaken or disable networks in foreign countries if a crisis occurred.

Data snooping: Chinese spies could theoretically gain access to Huawei’s networks undetected to extract sensitive info from people and businesses. Another possible avenue for espionage? Smartphones—Huawei’s one of the top manufacturers in the world.

The 5G rollout: The next generation of wireless networks is arriving fast…and the last thing the U.S. wants is for Huawei to connect the world with 5G. As the authors note, “This will dramatically expand the number of connected devices—and the chaos that can be caused if the networks supporting them are hacked.”

Defying U.S. trade rules: Huawei’s CFO is accused of tricking American banks into doing business with Iran, which would be a violation of U.S. sanctions. More of that activity could happen.

Chinese government influence: The U.S. and allies suspect Huawei’s execs are cozy with the Chinese government, which is the reason they’ve taken such a hard stance.

Making headlines around the world last week, Huawei CFO Meng Wanzhou, who just happens to be the daughter of the founder and CEO Ren Zhengfei, was arrested in Canada for reason #4 above. After all, Canada is one of the USA’s allies and is (should be) equally concerned for the same list of reasons.

What do you think?

Seat Belts on Busses Recommended

November 11, 2018February 5, 2022 ~ Loreeebee ~ 2 Comments

Apparently, seat belts on busses were recommended long ago after a Transport Canada investigation confirmed the fact that occupants are at unnecessary risk when riding on a large bus. Doesn’t this seem like a no-brainer? It sure does to me. I’m also pretty sure it must be to the parents of the hockey players killed in the Humboldt Saskatchewan crash last April.

The results of this investigation were kept under wraps for years, but recently outed by The Fifth Estate. Why the delay? They (Transport Canada) were waiting for the USA to change their laws so we could just follow suit. Why does Canada have to wait for the USA to update their laws? Good question, we shouldn’t.

School busses, coach busses, and possibly even city busses (although their use would be much harder to enforce) should be equipped with seat belts. We could then add another step to train drivers that their vehicle must not (even cannot) operate unless occupants are compliant. Surely with the technology available today sensors are available to monitor such things. Retrofitting busses currently in use might be expensive, but one taxpayers might be willing to swallow.

I can vouch for the fact I would rather pay for that than the expense accounts of former Governors General and the pensions of former politicians.

Are you with me?