In One Graph, Why Sanctions On Venezuela Will Have No Impact On US Oil Prices -- August 28, 2017 - Hallo friendsMY LIVE MY WAY, In the article you read this time with the title In One Graph, Why Sanctions On Venezuela Will Have No Impact On US Oil Prices -- August 28, 2017, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article my style, Article my way, Article New ways, Article their way, We write this you can understand. Alright, good read.

Title : In One Graph, Why Sanctions On Venezuela Will Have No Impact On US Oil Prices -- August 28, 2017
link : In One Graph, Why Sanctions On Venezuela Will Have No Impact On US Oil Prices -- August 28, 2017

In One Graph, Why Sanctions On Venezuela Will Have No Impact On US Oil Prices -- August 28, 2017

This is the graph:

And this reminder: oil fields are shutting down and operators in Canada's western oil sands are selling assets and/or pulling out because of the huge glut of heavy oil right now. Any continuing increase in the loss of Mexican and Venezuela oil will be more than offset by Canadian oil.

Canadian heavy oil = Venezuela heavy oil.

Geographically, logistically, politically, Canada has the advantage over Venezuela. Venezuela will have to offer a huge discount if the country wants to compete with Canada. Again, as remarkable as the graph is, Canada can supply a lot more oil to the US if the price is right. And, don't forget: if the Keystone XL is approved ... Nebraska decides (again) in November, 2017 ...

And, of course, additional imports from Saudi Arabia can make up any perceived shortfall. And, logistically and politically, Saudi Arabia is positioned much, much better than Venezuela. Saudi Arabia was the first country President Trump visited after being elected. To the best of my knowledge, Trump has no plans to visit Venezuela.

Some links:

• Trump's sanctions on Venezuela -- today -- The Washington Post
• China warns the US: sanctions on Venezuela won't work -- today -- Russian Times
• Venezuela says sanctions will lead to end of exports to US -- today -- BBC

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