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Ottawa must ensure Trump understands importance of Canadian oil to US, minister says

(Reuters) -Ottawa must make sure the Trump administration understands how inter-related energy markets are in the U.S. and Canada, a Canadian government minister said on Thursday, commenting on President-elect Donald Trump's vow to impose a 25% tariff on imports from the country. "We have some work to do to make sure we are effectively articulating the way in which tariffs would be counterproductive, and that's not just true of oil," Natural Resources Minister Jonathan Wilkinson told Reuters in a phone interview, adding that Americans also benefited from Canadian uranium and hydro exports. Trump, who takes office on Jan. 20, said on Monday he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs and migrants crossing the border.

AMD and Alphabet: Billionaire Steve Cohen Loads Up on 2 Big AI Stocks

AI is booming, providing an important pillar of support for the stock market’s substantial year-to-date gains. Put into numerical terms, the tech-heavy NASDAQ composite index, which features many of the AI sector’s major names, has added nearly 30% for this year to date – on top of the 43% gains it registered last year. The significance of AI, both as a technological force and an investment opportunity, is underscored by the attention it’s garnering from Wall Street titans – the billionaire inve

Oil field owner sues California over law that would end its Los Angeles-area operations

The owner of an oil field in Los Angeles County is suing the state of California over a law that will require it to stop production and plug its wells or face costly fines. Inglewood Oil Field owner Sentinel Peak argues in the lawsuit, filed this week, that the law, which was signed in September by Gov. Gavin Newsom, is unconstitutional, the Los Angeles Times reported Thursday. It is was one of several laws aiming to reduce pollution by giving local governments more authority to restrict oil and gas operations by shutting down so-called idle wells, which are not in use but have not been properly sealed and closed, and fining companies for operating low-producing oil wells in the Inglewood field.