With the Trump administration seizing Venezuelan oil tankers, demanding the “return” of oil and other assets and threatening war against the Maduro regime, the fate of the world’s largest proven reserves is once again in doubt.
As a result of U.S. sanctions, Venezuela has been all but frozen out of the international oil market, despite having more known oil than either Canada or Saudi Arabia.
If the oil were to start to flow again — as it did before the arrival of president Hugo Chavez and his successor, Nicolas Maduro — it could have profound effects on Canada.
