Monday , July 16 2018

‘Trade war could leave energy unscathed’

Bloomberg

The energy industry is one of the safest sectors to be in as US President Donald Trump instigates a global trade war, Husky Energy Inc. Chief Executive Officer Rob Peabody said.
Husky has ties to many of the major players in the emerging trade battles.
The Calgary-based company controlled by Hong Kong billionaire Li Ka-Shing has a major production center in Cana- da’s oil sands, refineries in the US,
and gas fields offshore China. Peabody said trade wars have proven to be unproductive
and likely will hurt everyone involved, but the energy industry may be relatively well-shielded from the worst of the fallout.
“Energy has been one of the most traded commodities, long before Nafta, long before many of the other trade agreements, even before the WTO,” Peabody said in an interview on the sidelines of a conference in Calgary.

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