By: Yale Bock
There is the idea that energy is destiny. If this is true, the major countries of North America each have circumstances to contemplate when considering their future energy needs. Obviously, the United States sits in the center of the North American map. It is the world’s largest producer of oil and gas but still receives some imports from Canada and Venezuela. Some believe the large onshore shale fields in the US, like the Permian, Bakken, and Marcellus, are now at a point where production is plateauing and will start to decline soon. In that context, President Trump’s recent announcement of a deal with Venezuela giving the United States access to their major oil basins certainly addresses the issue of future resource reserves. It remains to be seen how much production the United States will receive from the Venezuelan fields.
Canada has a strong resource position because of its large tar sands and other oil and gas fields, which are in Alberta and Saskatchewan. The United States imports a little over 10% of all energy used from Canada, or 60-80 percent of total energy imports. With the recent tariff controversy between the United States and Canada, some energy experts believe Prime Minister Carney will use the country’s anti-Trump mood to create the impetus to build long-needed pipelines going east and west across the provinces.
Of the largest countries in North America, Mexico has the most difficult energy position. As it moved to nationalize energy resources, production has suffered dramatic declines over the last decade. Mexico has long been ruled by political leaders who have worked to take national resources out of the domain of private industry and is now faced with the consequences of that approach. The financial problems of the state-owned energy company PEMEX highlight these decisions.
Originally posted on September 1, 2026 on Y H & C newsletter/ blog
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VIA SHUTTERSTOCK
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