Trump Bullied Canada Over Energy. Carney Just Sold Its Gas to Asia Instead.

By The Decision Room

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On July 1st last year, a tanker called the Gaslog Glasgow slipped out of Kitimat, British Columbia and pointed itself at South Korea. Almost nobody noticed. And it was one of the most important things to happen to the Canadian economy in fifty years. Here's why. For about seventy years, Canada sold its natural gas to exactly one customer on Earth: the United States. Not mostly — very nearly all of it. And it sold it cheap, because every pipeline it ever built ran one direction, south, and a seller with one buyer takes whatever price it's offered. There were stretches where western Canadian gas traded below a dollar a unit while the American benchmark it fed sat at several times that. Then the trade war came. Tariffs. Annexation talk. A president telling Canada he didn't need anything it produces — while Canada sat there as the captive supplier, selling its energy to the one customer now threatening it. That fear is what finally pushed a 15-year-stalled idea over the line. LNG Canada

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