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Honest question: I've always assumed that we're exporters because that's how the economics work out (better profits for the O&G corps). Will this situation change with tariffs? Will refined products remain in the domestic market more?

I don't understand what you mean? Almost all of our refined products do remain in the domestic market.

Didn't you just say we're net exporters of refined products? Or did I misunderstand?

There's incentive now to increase our refinery capacity in Canada. Do you think that will happen?

Why?

1. Instead of exporting a raw resource, processing or refining it makes it more valuable. 2. Creates jobs here in Canada. 3. Reduces reliance on imports when we can make it here and export our excess.

Mr Leach, can you please share where this data comes from? I am not disputing it, I just need to examine it more closely.

Where are the biggest shortfalls, and in what products? And how would that change if you exclude diluent for pipelines for US export? I'm wondering if a short production curtailment/export pause would be feasible without too much impact on Canada. Maybe timed with annual maintenance shutdowns?

Short production curtailment of what? Products? Or crude + bitumen?

Whatever we export to the US, so mostly crude + bitumen?

yup, I was under the impression that we extracted oil, sent it off to american refineries and then got back gas for our cars instead, what you're saying is that we have enough refining capacity for our domestic needs, and if that falls short we import a bit to top that off?

and that, in most months, we produce more than we need.

thanks for taking the time to answer my question