As the U.S election currently unfolds before our very eyes, Canadians haven't shied away from making it all about us.

Can you blame Canada? From being brought up in not one, but two debates so far to people swearing they want to move here, this country has been pretty involved in our neighbour's business.

Despite the U.S and Canada being two completely separate countries, it actually turns out that Canada might have a big stake in the elections and could actually be affected whichever way the coin falls.

This includes many sectors that could possibly see an impact including immigration or the country's environmental and oil projects. 

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What is the federal government saying about the U.S elections?

The federal government said they are watching closely as things develop south of the border.

Justin Trudeau, in particular, has his eyes on the south and is preparing for whatever happens.

"I think we're all watching the U.S election with close attention because of its potential impact on the Canadian economy and Canadians," he said in a press conference Thursday. 

He also said that as Canada bears witness to the elections happening right now, the country will no doubt be prepared for "various eventualities." 

How can the elections impact Canada's borders and immigration?

Immigration is a hot topic in the U.S, with both presidential nominees serving up different perspectives on it.

Trump's administration just recently announced an initiative that would be a major overhaul of the H1-B visa program, according to CBC

What was initially a program that would allow individuals to enter the U.S on the grounds of temporary work in specific sectors, could be changed in order to "protect American workers."

However, those with freezes on their temporary work visas aren't the only ones who could possibly get the boot from the U.S.

The Trump administration also announced they want to cap international student visas at only four years.

Although Canada is comparably welcoming, the influx of students and workers from the U.S could prove to be difficult with possible waitlists soaring.

However, if the wheel spins in Joe Biden's direction, it could reverse everything that has happened under Trump's presidency, the report said. 

According to the report, Biden would reverse Trump's H1-B visa freeze and repeal the travel ban and allow 125,000 refugees to come into the U.S.

What effect will the elections have on Canada's environment and energy projects? 

Biden has been against the Keystone XL pipeline from Alberta and said he would put a stop to it if elected, the report also said.

"I've been against Keystone from the beginning. It is tarsands that we don't need — that in fact is a very, very high pollutant," Biden said in May.

However, the Trump administration says otherwise, as they have continued to promise more oil drilling and more pipelines. 

And if elected, that means a continued promise to the Keystone XL pipeline, which would carry nearly one-fifth of the oil Canada exports to the U.S. each day.

But with challenges to the pipeline and an unsure future due to elections, it has proven to be an uncertain time for oil, especially considering it is Canada's top export to the U.S, per the report.

This is good news to some as many Canadians have been vocal about their dismay of the project while others believe it's what Canada must do to keep the economy strong.

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