February 2, 2025

Trump has said we will put tariffs on oil and gas by Feb 18

If retaliatory tariffs target energy imports, MA could see a punishing increase in energy costs by 25% or more. This will cost the Commonweath of Massachusetts. Electricity costs in Massachusetts could increase by as much as $200 million a year as up to 10% of our energy is imported from Canada.

Given that most raw oil crude oil products are exported and most refining is done on imported oil because that industry was set up before shale oil. Gas prices will likely rise.

By way of Reuters




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