US in 2024 bought as much oil as China from Venezuela, and…

he Treasury extended the deadline for Chevron to wind down its oil production in the country until May 27.

will keep importing at least until that date.

Punishing retroactively seems strange. More than 10 countries took some Venezuelan oil in 2024.

Key policy point is whether US forbids itself from buying Venezuela oil.

If so, helps Canada/Alberta. If not hurts Canada.

Whoever buys Venezuela oil will get it cheaper than global price from this extortion policy.

Overall, this is BS to add more tariffs, and those who cower to it, will face different BS to add more tariffs to them. It’s for sure cheaper energy for Cuba. China is least likely to cower, and can use US extortion to get better deals for Venezuela infrastructure projects, and get cheaper oil.

Panama control is a big factor in preventing Pacific access to Venezuela oil. There was once a plan for a pipeline to Pacific, but control over Columbia is another factor. New geopolitics of cowardice seem to be taking hold, and China has plenty of alternate suppliers.

Europe could get cheap Venezuela oil if Monaco is import point, and Monaco doesn’t care about US tariffs.