American SUVs make us money May 25, 2006
Posted by mwj as canada, energy. trackback.PINR released a report last Friday that charted the rising star of Venezuela beyond US horizons. Chavez has been looking to China for some time now as an alternative energy trading partner to the US. This is part of his strategy to free Venezuela from dependence on American markets.
However, despite Chavez’s continued anti-American rhetoric, Venezuela is still hugely dependent on the voracious appetite for oil in the USA. The PINR report mentions something that has an interesting resonance for a similarly burgeoning Canadian petroleum industry also dependent on the American thirst for oil:
Venezuela sells 1.5 million barrels per day to its biggest customer, the United States. Despite his inflammatory rhetoric and actions intended to subvert Washington’s influence in Latin America, Chavez’s Bolivarian vision ultimately relies on tremendous energy consumption by the United States.
Last year, Canada sent about 2.1 million barrels south each day, around 99% of our petroleum exports. We were also the biggest supplier of the United States, by about half a million barrels (Mexico, Saudi Arabia, and Venezuela were next in line). If we are not careful, more Americans might start re-thinking this mutual dependence and get tired of Canada’s propensity for “rubbing America’s nose in the dirt.”
Comments»
no comments yet - be the first?