“No alternative to buy” — Shark Tank’s Kevin O’Leary addresses US dependence on Canadian oil

Kevin O'Leary, a Shark Tank star, recently brought attention to the United States' significant reliance on Canadian oil, which sparked debates over international trade and energy policy.

In a recent interview with Fox Business, he highlighted the vital role Canadian imports play in supplying energy demands, pointing out the limited options for acquiring oil in the United States. O'Leary further emphasized how this dependence has greater implications for both countries' energy and economic policies.

Beyond his appearance on television as "Mr. Wonderful," O'Leary regularly makes remarks about matters that go beyond business transactions, such as sustainability and worldwide economic trends. His most recent insights on the dynamics of oil between the United States and Canada have thrust him back into the public front and highlighted the value of reliable energy alliances in the face of global unpredictability.

"There's no alternative to buy, and the Canadian oil is $13 a barrel cheaper than any other, and it's 70 percent of the imports," he said.

---

Shark Tank's Kevin O'Leary opens up about the critical role of Canadian oil in US energy stability

(Post via Instagram/@kevinolearytv)

Shark Tank star Kevin O'Leary recently offered his thoughts on the US reliance on Canadian oil in an Instagram post that sparked a lot of conversation. When asked what he thinks about the 10% tariff on Canadian oil imports, O'Leary underlined that the United States had "no alternative to buy," emphasizing how Canadian oil is a vital and dependable source of energy for the country.

He highlighted how if it hadn't been for Daniel Smith, the tariff rates would not have gone down to 10% from 25%.

"I think the whole deal with Canada is different than Mexico, different than the Europeans. The oil deal is, remember the first idea was 25%, and then through a lot of work, I think that Daniel Smith did herself because she had the guts to go and say Trump and Mar-a-Lago long before he became President got her a 10% tariff."

"But I think the more they look at that, they say, wait a second, all of the refineries in the U.S. that were designed to take that oil were built specifically for that grade of oil. There's no alternative to buy, and the Canadian oil is $13 a barrel cheaper than any other, and it's 70 percent of the imports."

Shark Tank's expert further emphasized that the United States is still largely dependent on Canadian oil imports to meet its rising energy needs, even in the face of continuous discussions about renewable energy and lowering carbon footprints.

By the end of the video, he stated that he anticipated Trump would postpone acting on the issue.

---

Follow Shark Tank's O'Leary on Instagram for more such videos.