• Biden's pursuit of Venezuelan oil while shunning US energy and Keystone

    From buh buh biden@21:1/5 to All on Mon Mar 21 06:30:23 2022
    XPost: alt.fan.rush-limbaugh, talk.politics.guns, sac.politics
    XPost: can.politics

    Venezuela's oil is heavier, dirtier, and more difficult to extract than US
    or Canadian oil

    The Biden administration has flirted with lifting oil sanctions on once- shunned Venezuela to temper surging oil prices, yet it appears unwilling
    to encourage investment in domestic energy production. Critics slammed
    this move in comments to Fox News Digital.

    White House and State Department officials traveled to Caracas earlier
    this month to meet with Venezuela’s authoritarian President Nicolás Maduro after Biden banned imports of Russian oil over Russian President Vladimir Putin's invasion of Ukraine.

    After some backlash, the State Department claimed that the visit had
    merely been about the release of detained Americans and "championing the democratic aspirations of the Venezuelan people."

    Despite the State Department’s denial, a source briefed on the meeting in Caracas told The Financial Times that a partial lifting of oil sanctions
    had been on the agenda, after all.


    Even if the Biden administration were to go ahead with lifting U.S.
    sanctions on Venezuela with the aim of securing an alternative oil supply, experts say the country is nowhere near being in a position to ramp up production in time to help temper the current price spike. The United
    States produces more than 12 million barrels of oil per day on average,
    while consuming about 19.5 to 20 million. Venezuela's output simply is not enough to make up much of what the U.S. economy needs.

    Furthermore, Venezuela’s anemic oil industry is plagued by technical and political problems. So why would the Biden administration even consider
    the idea while better alternatives – ones that don’t empower authoritarian dictators – are on the table?

    The Biden administration has had and continues to have an icy relationship
    with the oil industry, whom the president blames for profiteering off the current energy crisis. On day 1 of his presidency, Biden pulled the plug
    on the Keystone XL pipeline, which would have transported an estimated
    840,000 barrels a day, displaced more than 600,000 barrels of Russia’s oil
    and employed thousands of workers in the U.S. and Canada. Canada's oil is
    also better suited for use in gasoline than Venezuela's.

    The U.S. has slapped tough sanctions on Venezuela’s state-owned oil
    company, PDVSA, and cut ties with the country in response to President
    Maduro’s alleged human rights violations. Consequently, many critics of
    Biden’s move have questioned why the U.S. would shun its own oil, and
    Canada's, in favor or an authoritarian regime that is openly hostile to
    the United States.

    https://www.foxbusiness.com/energy/biden-venezuela-oil-while-shunning-us- energy-companies-keystone

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