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Question - Alberta premier, Jason Kenney, has recently made a trade mission to Washington to promote the Keystone oil pipeline which would transport oil from Alberta to the U.S. Midwest. The construction of Keystone was cancelled in 2021. This trade mission was in response to the global shortage in oil production due to the embargo on Russian oil imports due to the Russian invasion of Ukraine. Kenney believes that Alberta, with its vast oil reserves, can fill the void from the Russia oil embargo. So far, the U.S. has not responded positively to Alberta's request to resume the building of the Keystone pipeline.
Determine the effects of this action on Canada's:
a. GDP
b. Unemployment rate.
c. Long-run Supply of oil and gas
d. Long-run Demand for oil and gas
e. Inflation
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