In regards to a correspondent talking about how Canada's energy market is "rattled"- I had to respond:
Lots of folks completely unfamiliar with flows of oil and it shows.
There is no substitute for Canadian oil and won't be for years and beyond- you can't just ship Venezuela's oil to the interior US easily- WCS will not face real competition for years. Venezuela still has huge risks and the future is clear as mud as to what happens, but these early calls, before meaningful regime change, before sanctions relief, before any clarity- provide nothing but guesswork.
The reason Canada "wants new customers" is that the U.S. has become a less-than-stable trading partner and the only answer is to find sanity through building new infrastructure to become less reliant on the United States. Has absolutely nothing to do with Venezuela.
Just a kind reminder to all our American friends. That shit that happened in Minneapolis today, never ever happened in the EU, never would, never will.
If a mother of three (youngest child of age 4 or 6) got point blank shot in the head by an officer here, no matter the circumstances, no matter the reasons, no matter the driving directions, or intentions, even if she were the worst human on the planet, governments would fall, elections would be called, and the offending officer would end up serving a horrible jail sentence (and his superiors wouldn’t fare much better).
Oh, and in the EU politically mandated militias, such as ICE, are strictly illegal.
Instead of fantasizing about gunboating your way to build an empire by sizing the territories of your allies, you may wanna consider scraping that medieval constitution you have and joining us as the 28th member of the Union.
Statement from the Premier of Greenland 🇬🇱
6:55pm local time:
“🇬🇱 We have been a close and loyal friend of the United States for generations. We have stood shoulder to shoulder in difficult times. We have taken responsibility for security in the North Atlantic — and not least for North America. That is what true friends do.
Precisely for that reason, the current and repeated rhetoric coming from the United States is entirely unacceptable.
When the President of the United States speaks of “needing Greenland” and links us to Venezuela and military intervention, it is not only wrong. It is disrespectful.
Our country is not an object in great-power rhetoric. We are a people. A country. A democracy. That must be respected — especially by close and loyal friends.
We are part of NATO, and we are fully aware of our country’s strategic location. We also understand that our security depends on good friends and strong alliances. In that context, a respectful and loyal relationship with the United States is very important. That has been the case for decades.
But alliances are built on trust. And trust requires respect.
Threats, pressure, and talk of annexation have no place between friends. That is not how one speaks to a people who have repeatedly demonstrated responsibility, stability, and loyalty.
Enough is enough.
No more pressure.
No more insinuations.
No more fantasies of annexation.
We are open to dialogue. We are open to conversations. But they must take place through the proper channels and in full respect of international law. And the proper channels are not random and disrespectful posts on social media.
Greenland is our home and our territory.
And it will remain so. 🇬🇱”
@BTCMax21@KobeissiLetter@amitisinvesting Correct. Even decades. Taking Maduro gets him further, not closer. The country is a jungle, physically and politically. You get stuff by making friends, not enemies.
To the new Venezuelan oil bulls with the "300 Billion Barrels" largest-in-the-world reserves charts today, the real number is 25 billion.
Congratulations, welcome to the Orinoco Belt.
API Gravity: 8° ("Extra Heavy"). Sulfur: High ("Sour"). Metals: Yes, lots of Vanadium (poison to refinery catalysts).
It's not Light Sweet Crude; it's road pavement that hasn't dried yet.
Chemistry is a wonderful thing, and the industry can turn this sludge into jet fuel, but it costs a fortune.
In reality, Venezuela's economically recoverable reserves are 25 billion barrels of heavy, sour, metallic oil.
Today's free Oil 101 lesson: Volume is vanity. Viscosity is sanity.