this post was submitted on 24 Jan 2025
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Canada
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Arguably accurate on the oil front as the US net exports, but the housing crisis is gonna get real bad after the price of lumber triples, ending all construction...
Don't they have to rework their refineries in order to replace Canadian oil? Instead the refineries currently working with Canadian oil are specifically built to process dillbit, due to having been built to use Venezuelan dillbit originally.
True, the refineries would be an issue, but I don't think anyone has thought through what halting all construction is going to do to a housing market with a $24k/year national average to make rent already.
Oh yes I didn't mean to deny the point on housing.