Could the Middle East oil crisis sticker shock boost EV sales?
BNN Bloomberg
The impact of the Iran war on fuel prices in Canada may encourage more drivers to go electric, some experts say, but others warn the conflict will drive up prices of "pretty much everything."
“I am aware of the increase in the price of gas,” says Bromwich. “But I haven’t been watching closely because I don’t have to.”
Electric Mobility Canada, an industry association, says the latest spike should serve as a reminder to drivers that volatility should come as no surprise.
“The message is that it is time for people to realize that their choices have an impact,” says Electric Mobility Canada President and CEO Daniel Breton. “The price of oil is very volatile and it’s always been volatile, while the price of electricity is very predictable and it’s very reasonable. But also, more than 70 per cent of the oil sands are owned by foreign companies, and the vast majority of electricity production is owned by Canadian utilities.”
He said those looking to buy Canadian should consider what they put in the tank.
But that argument may not seal the deal for many shopping for a new vehicle.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.
Venture Global will proceed with phase 2 of its CP2 liquefied natural gas project in Louisiana, the company said on Friday.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
Telus Corp.’s global IT and customer services arm says it’s investigating a breach of its systems.
When Jensen Huang strides onto the stage of a packed hockey arena to kick off Nvidia’s annual developer conference on Monday, he is likely to reveal products and partnerships geared toward keeping the AI chipmaker atop a growing array of competitors.
The current Canada Revenue Agency (CRA) crackdown on Canada’s growing army of gig workers has gone beyond Uber drivers, contractors, consultants, handy-people and freelancers.
The U.S. Trade Representative’s office said late on Thursday it had begun Section 301 unfair trade practices probes of 60 economies in relation to what it called failures to take action on forced labor.
Global equity funds recorded the largest weekly outflows since mid-December in the seven days to March 11 as disruptions to oil supplies stemming from the ongoing U.S.-Israel conflict with Iran stoked concerns about inflation and global economic growth.