Even if possible impacts from the U.S. election are relatively small, some in the Canadian oilpatch are nervous because the sector is already under severe financial pressure. "If there are anti-oil policies put in, such as frack-banning or anti-Canadian protection policies, it will further hit the Canadian oilpatch and lead to more job losses and sectoral damage." Those who've been fighting Keystone XL expect Biden will stop the project. "It could possibly open up more investment into the Canadian oil sector, and even the gas sector itself," said Kainz, who is based in Texas. That's why Biden in the White House would be just one of many uncertainties for Canada's oil industry.

Source: CBC News November 07, 2020 09:00 UTC