U.S. May Halt Oil Imports From Venezuela

Tyler Durden's picture

Authored by Irina Slav via OilPrice.com,

The Trump administration is mulling over sanctions against senior Venezuelan government officials, and additional measures could include sanctions against the country’s oil industry, such as halting imports into the U.S., according to senior Washington officials who spoke to media.

The goal of the sanctions is to prevent the Nicolas Maduro government from having things its way at a July 30 election for a Constituent Assembly that, the U.S. administration believes, would serve to cement Maduro’s power and turn Venezuela into a “full dictatorship.”

The Constitutional Assembly vote was proposed by the government as a means of tackling the political crisis that Venezuela slid into last year, after the election of a new parliament where the opposition had a majority that put it at odds with the government. A Constituent Assembly can rewrite the country’s constitution, and many observers see the move as an attempt to strengthen the current regime’s hold on power.

After months of often violent protests, the opposition has now called a 24-hour national strike after conducting an unofficial referendum that, Al Jazeera reports, suggested overwhelming opposition to the idea of voting for a Constituent Assembly and equally overwhelming support for transparent parliamentary elections.

Russian Sputnik quoted Venezuela’s Foreign Minister Samuel Moncada as saying Venezuela will reconsider its relations with the U.S. should Washington go ahead with the sanctions, which, for the time being, seem to target two senior government officials: Defense Minister Vladimir Padrino Lopez and the second most senior figure in the ruling Socialist Party, Diosdado Cabello. The allegations against them are for rights violations.

Venezuela is the third-largest oil exporter to the US, with the daily rate of imports for the week to July 7 at 823,000 barrels, according to the EIA, about 30,000 bpd less than Saudi Arabia’s daily exports to the U.S.

In 2016, Venezuelan imports accounted for 9.5 percent of total U.S. crude imports.

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Looney's picture

 

If you really wanna see the Libtards’ heads explode, replace the famous Venezuelan CITGO sign in Boston with a “MAGA” sign.  ;-)

Looney

mofreedom's picture

TEAR IT DOWN Kurt Schilling...you can do it...no sarc.

What about fertilizer shipments,,,made with NATGAS?

 

blueyefinity@yahoo.com's picture

Can't we start a helping program? Like Oil-for-Food with Iraq, but instead shipping them leftists.

We can name it Oil-for-Turds

Venezuela Has Descended Into Chaos

http://dailywesterner.com/news/venezuela-has-descended-into-chaos/


cheka's picture

oil is fungible.  makes no difference if US buys it or someone else does (just like 'regular' gasoline).  US refineries aren't the only ones with sulfur units

veritas semper vinces's picture

What I would like to see are NO color revolutions from the new administration.For a change to the prior ones

Kokito's picture

Once again, the CIA usable idiot ZersHit is trumpeting its visceral hatred for the socialist system in Venezuela. ZH, a neo-Nazi ragtag website, is spreading fake news about Venezuela. It is obvious that ZH want the US corporations to control the exploitation of oil, gas and mining in Venezuela.

   

The unconstitutional plebiscite & illegal national strike called by the fascist extreme-right opposition was a catastrophe disappointment. It is impossible to justify the results plebiscite because they didn’t have an accounting mechanism in place. They didn’t a integrity supervision in place either, anybody could vote more that once and many did even dead people more then once.    

 

The only group that supported the national strike was the industrialist association, of course and can count its member with right hand. The threat of the sanctions to prevent the government from holding a Constituent Assembly next Sunday is just el-payaso’s wet-dream.

 

It is very ironic to see the WH clown talking about democracy, freedom and human rights knowing that the US government is the most corrupted, degenerated, criminal and Machiavellian nation in the world. Of course, the CFR/CIA writes his speeches.

 

The right-fascist resorts to political projects that are impossible to realize in Venezuela because they do not have the support of the majority of the people, as it was perfectly clear in the results of the disastrous plebiscite. The only way that the far-right & neo-Nazi opposition can form a parallel government is in exile either in Colombia or Miami here they enjoy has the support of the correct and criminal ante-patria and gusaneria Cuban.

And finally, Tyler Durden (whoever you are) go fuck yourself, you stupid shit.

cheka's picture

a lot of ink to try and pin the socialist failure on the other side.

fail.

i did like chavez.  he gave heating oil to US northeast when skype-oil, using paper crap, had run the price of heating oil up to unaffordable

Zero Point's picture

"Extreme right opposition"...... Somewhere to the left of Hillary Clinton.

Schmuck Raker's picture

US gov looking at saving House of Saud's bacon, again.

dasein211's picture

Yep- less oil from the commies means more oil from the wahhabists. 'Mericans never learn.

mofreedom's picture

Ships passing in the night pretty much wash out,,,both parties make less via extra freight.  Symbolic unless more countries sanction,,,leading to VEN having to deeply discount...which I hope happens.  Bleep.

cheka's picture

house of saud/opec = nyc ouposts.  under complete control of nyc skype

JusticeTBuford's picture

Wouldn't it make sense for Venezuela to just sell the oil to China for gold?

logicalman's picture

Doesn't usually go too well.

Someone's likely to get a bayonet up the arse.

 

ScratInTheHat's picture

Venezuela was going to hell when the oil price was high! It’s the commie ass-hats running the country!

Yen Cross's picture

  My tap water tastes better already.

wisehiney's picture

maduros will just call his admirers in hollywood.

They will save his ass.

Twee Surgeon's picture

The vast majority of Venezuelan oil is refined in U.S. Refineries, at least the last time I  read something on Google. High Sulfur Oil requiring advanced Refinement, as i understand it.

I might be wrong but I expect the crap I have read is fairly close to the true story ? Correct me if I'm wrong.

Therefore, US Oil companies have been experimenting with Socialism in Venezuela for decades with the blessings of the U.S. Government.

I might be full of shit but I don't think I am. Ven is floating on Oil. They should all be living quite well down there ?

One would think.

Hyjinx's picture

Some cultures just suck. Africa should have the wealthiest nations but...niggers.

blueyefinity@yahoo.com's picture

Meanwhile Japan is a highly developed country with almost ZERO natural resources.

The central planners's picture

No natural resources and WTF is Fukushima? Huh?

cheka's picture

yup.  some gulf coast refineries have sulfur units -- so they can run the cheap sour crap from vz.  it's not rocket surgery -- others could do same

FoggyWorld's picture

And add to Fukushima all of their other nuclear power plants in tsunami land.

logicalman's picture

but..... greedy European psychopaths.

FIFY

Twee Surgeon's picture

Yeah, I know. sad but true.

EINSILVERGUY's picture

Yep, It can only be refined in a couple of places. One is here in Houston.  Venezuela has more oil that the Saudis but it requires special refining because of the heavy sulfer. Its not like sweet crude. Venezuela once had the highest per capita income in Latin America. I know that everyone likes to blame the US for all of the ills in the world but this can be laid at the doors of Chavez, Maduro, their cronies and the people who voted for socialism.  30 years ago you would not have to argue why socialism is a failure becuase you had millions who lived behind the iron curtain. Today these idiot millennials have been brainwashed to beleive that socialism is the panacea because they are too stupid to pick up a book and read about this.  Same reason we had progressives who became liberals who then went back to calling themselves progressives. "Those who fail to rememeber the past are condemned to repeat it"

 

 

cheka's picture

no.  it can be run anywhere they decide to build an sru.  some gulf coast (not just houston) refineries chose to.  others can do same

FoggyWorld's picture

Those people of all ages and especially the young have been fighting in the streets of Caracas for months now.   They don't have enough food to eat and yet push on without the arms that Maduro's troops have to mow them down.

One America News does its best to get film clips out to them at least once a week.

 

Iskiab's picture

These days, the biggest indicator of how well your economy is doing is whether you produce oil or not. If you produce oil then you're not doing well.

You could attribute this to low oil prices, but more likely it's foreign powers (USA) fucking with your country. When people talk about 'deep state' the oil industry has to be involved, otherwise US foreign policy makes no sense.

Twee Surgeon's picture

You are basically repeating what my comment implied, therefore you are correct.

Iskiab's picture

These days, the biggest indicator of how well your economy is doing is whether you produce oil or not. If you produce oil then you're not doing well.

You could attribute this to low oil prices, but more likely it's foreign powers (USA) fucking with your country. When people talk about 'deep state' the oil industry has to be involved, otherwise US foreign policy makes no sense.

FoggyWorld's picture

They are floating in oil that they are unable to get at because all the equipment is broken or in a state of disrepair.  And the foreign technicians who did so much of the serious work are no longer there.

VWAndy's picture

 More bankster games. Its not looking like the swamp is getting drained to me.

old_cynic's picture

sucks to be CITGO, right?

old_cynic's picture

Expect higher gas prices everywhere.

Looks like the powers-that-be consider this a good excuse for restricting oil flows and thereby increasing the price of oil!

Robert A. Heinlein's picture

The guy has totally ruined his country, he does not need any more power. Doing a great job w/ out it. Plus, it's amazing how mad people get when your gov steals your stuff.  And Barnie Sanders and Co had this in mind for us.  fm. LOL  Thank God I'm one of those according to the criminal hillary with guns and a bible. Or was that Obama. They all sound alike.  Like Maduro.  No thanks. The great reason we can do this is we got almost as much oil and the Fracking industry is kill'n it.  Take'n out OPEC.  Carry on Trump. Sic'm.  

Boris Badenov's picture

Mull this: Ft. Marcy Park, 24 years ago today.

His name was Vince Foster.

FoggyWorld's picture

And mull this:  Another DC area park, 1 year and 12 days ago.

His name was Seth Rich.

johnnycanuck's picture

Erdogan turned Turkey into a dictatorship using fear, intimidation, violence and a highly questionable referendum.  What did Washington do?   Sweet bugger all.. 

logicalman's picture

What do you mean 'Sweet bugger all.?

US deep state did that to America, except the last election replaced the referendum.

 

Twee Surgeon's picture

Turkey, the very root of democracy for so many centuries since....when ? Erdogan is just shitbag 10.000. That's just how Turkeys roll. same as it ever was.

Turkey nice, dipped in sugar, was just a phase. https://en.wikipedia.org/wiki/Pergamon_Altar

unsafe-space-time's picture

Drop a bunch of military weapons and leaflets saying: "once you get rid of your government everyone will get food and seed to get started and 3 acres per person and each property will be a sovereign territory that belongs to each individual." Now that's how you build a nation

Yen Cross's picture

  Some nuke's needed repositioning, before the official press release.

silverer's picture

If Maduro turns it into a full dictatorship, the US invades in the name of decency, democracy, and women and children, and then promptly turns it into a US run dictatorship. If Maduro gets hit with the sanctions and backs down, and of course becomes broke, then his country is invaded by Goldman Sachs, which lends money against the oil reserves as secured collateral, turning Venezuela into a central bank owned dictatorship. The only ones that could save the people of Venezuela are the Russians, but they don't seem to be interested. Bad time to be a Venezuelan. Good luck.

sinbad2's picture

"US invades in the name of decency"

The US and decency should never be used in the same sentence. Decency is antimatter to the USA.

Twee Surgeon's picture

Grenada invasion times 50, dude !

Tejano's picture

Let Venezuelans  work it out among themselves. These sanctions never hurt the rulers. They only hurt the average Joe, or in this case the average José. José needed a Pinochet back in 1999, but there was none. Now José has to clean up this mess - blood in the streets if that's what it takes.

Funny how it usually takes longer to clean up a mess than it does to make one.

FoggyWorld's picture

The blood in the streets has been going on now for months but Maduro spent the gold down to keep his military in food and bullets.   It's going to take a long while to restore order if perchance he slips on a banana peel.