Commentary
The removal of Venezuelan leader Nicolás Maduro by the Trump administration led some people to hit the panic button regarding Alberta’s energy sector. One headline said, “Venezuelan oil could put Canada out of business.”
With some days to process the event, people have realized that Venezuelan heavy crude oil won’t be flooding into the world markets for some years to come. That said, Venezuela does have the largest proven oil deposits on earth, and it will be getting to market eventually. Canada shouldn’t panic, but it should be embracing a sense of urgency on the issue, and we aren’t hearing that from Ottawa….