Gas Analyst Warns Trump Canadian Tariffs Could Spike US Gas Prices and Backfire Politically
(Credit: Getty Images Joe Raedle)
Petroleum analyst Patrick De Haan, widely recognized as the “Gas Buddy Guy,” has issued a stark warning to President-elect Donald Trump about his plan to impose a 25% tariff on all imports from Canada. De Haan, who has tracked oil markets and fuel prices for nearly two decades, predicts significant economic repercussions if the tariffs are enacted.
Citing a report from The Guardian, De Haan highlighted growing tensions between the U.S. and Canada, as Canadian Prime Minister Justin Trudeau faces mounting pressure to push back against Trump’s proposed tariffs. The report noted that Canadian lawmakers are urging Trudeau to establish a “war room” to prepare for the looming trade battle.
Jagmeet Singh, leader of Canada’s New Democratic Party, underscored this sentiment, stating, “The only thing a bully responds to is strength. So where is our plan to fight back? Where is the war room?” De Haan warned that Trump’s strategy could be a severe miscalculation. “There’s a risk Trump is making a miscalculation, and now politicians in Canada are gearing up, thinking of how to retaliate on potential tariffs.
This is not a good road to be going down,” he said. Xavier Delgado, a scholar at the Woodrow Wilson International Center, echoed De Haan’s concerns, noting that retaliatory tariffs from Canada could severely impact U.S. states. “Thirty-six states have Canada as their top export market,” Delgado explained. “Retaliatory measures would also burden Canadian consumers, who are already discontented with the economy.”
Responding to speculation that Canada and Mexico might threaten to embargo oil sales to the U.S., De Haan issued a dire forecast: “Trump will lose this game miserably if Canada decides to take action. Checkmate. Don’t play games you can’t win—the U.S. is more reliant on Canadian crude than Trump realizes.”
De Haan also outlined the immediate impact of tariffs on U.S. gas prices, especially in regions heavily dependent on Canadian oil, such as the Great Lakes, Midwest, and Rockies. “You can’t simply process different oils overnight,” he explained. “It would take investments and years. More U.S. supply wouldn’t help.”
Using a detailed map, De Haan demonstrated how Trump’s proposed tariffs would disproportionately affect gas prices in key “blue wall” states like Michigan and Wisconsin, which played a pivotal role in his electoral victory over Kamala Harris. De Haan’s analysis suggests that the political and economic fallout of the tariffs could undermine Trump’s strategy and alienate crucial voter bases.
