not a very positive development >
this catch-22 situation does not have a short off-ramp for conflict in the Middle East to de-escalate. the ongoing strategy of the US is simple to articulate: - control and influence the major waterways to gain leverage on oil and gas markets globally. this is only possible within power projection onto countries or regions where oil and gas reserves form a substantial portion of global stock. - venezuela is a tactical hedge, since the United States is already the world's largest oil and gas exporter. most heavy crude imported from Canada / Mexico are for domestic demand, while light crude are slated for exports.
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The U.S. primarily imports heavy crude oils from Canada and Mexico
The American Petroleum Institute (API) is the only national trade association that represents all aspects of America’s oil and natural gas indust...
P.S. you still get ignorant clowns talking up that heavy crude oil is difficult to refine and therefore useless for the USA. - based on the current economic impact that is probably going to wreck economic growth in a couple of places this year, the most likely prospect of the 32 member countries within IEA, going foward, is to simply increase the oil stockpile to a larger buffer level. Combine this with the unprecedented 400 million bbls drawdown of the IEA member states, this will have a long term impact on the price of crude.
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IEA >
IEA
Membership - About - IEA
#oil #gas #energy #geopolitics #usa #iran #persia #europe #uae #iea #money #finance
