this post was submitted on 03 Jan 2026
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There's refineries in the US that are geared up for processing Canadian heavy oil.
The Venezuelan oil is supposedly similar, and cheaper to ship to those refineries.
Canada has a few years left of shipping this oil to those refineries until the oil companies get in and kickstart the Venezuelan production.
I don't think they're going to flood the market with cheaper oil.. instead they'll maim the Canadian industry