No. of Recommendations: 1
But we only have so much refining capacity for heavy sour oil. So whatever the Venezuelans sell to us is simply going to displace heavy sour imports we bring in from Mexico and Canada. But Mexico and Canada are still going to need to sell that oil. So they'll sell it to China. Mexico does not export a lot anymore. The previous Mexican administration decided to build up domestic refining capacity, rather than importing refined products from the US, so there is progressively less crude to export. When Trump the Great and Perfect imposed his tariffs last spring, Canadian crude was exempt, but Mexican was not. Mexico pivoted to exporting to other countries. Canada cannot pivot to exporting to other countries, because much of their oil is landlocked. If the US regime issued an edict that only Venezuelan heavy sour be imported, the pipelines from Canada be cut off, the Canadian oil, some 2Mbpd, would, effectively, be off the global market.
Bombing Kharg Island, or promoting chaos in Iran, to take Iranian production off line takes another 2Mbpd off the global market.
TYT, quoting Israeli media, was reporting how "Prince Reza" is a stooge of Israel and the US. The reports of vast crowds in Iran cheering for the return of the Pahlavi regime are either fake, or CIA/Mossad operatives. Yes, some Iranian ex-pats may pine for the Shah, just like Cuban ex-pats in Florida pine for Batista, but they are the minority, who are still fighting a war they lost decades ago.
Here is a TYT piece, that quotes reporting by Haaretz.
https://www.youtube.com/watch?v=raqhxJuNnKASteve
