Post #3200 by jerryab on the Macroeconomic Trends and Risks board

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Most of Canada's oil is landlocked, the US is the only outlet.

You are years behind the times. Canada has a pipeline to the Pacific Ocean. So the central Canadian oil is being sold at market rates to Asia and other buyers. This has driven up the price paid for oil products in the north-central US. According to the TransCanada report to the Canadian govt (filed when Keystone XL was being planned), that increased the ANNUAL cost of oil products to the central US (think farmers) by $5B (maybe more)? So, if you wonder why stuff (i.e., food products and more) cost more today, you now have a BIG CLUE.

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