Immediate Benefits: Consumers and Oil Firms

E.J. Antoni explains how lower prices and higher oil company profits will follow U.S. access to Venezuelan oil.

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In war, dependable access to oil is as important as dependable access to kinetic arms. Access to ample reliable flows of oil represents a key strategic interest to the United States.

Western Canada sends over 4 million barrels a day of heavy crude to American refiners.

But now with access to the massive flows of Venezuelan crude following the Trump-led ousting of Nicolas Maduro last week, the U.S. may soon no longer need to rely on Canada for this vital strategic resource.

For months, Canada used its vast reserve of natural resources as leverage in its tariff negotiations with the U.S.

Not anymore.

“If the Monroe Doctrine warned Europeans to stay out of the Western Hemisphere and the Roosevelt Corollary established American intervention therein, then the ‘Trump Corollary’ has put a finer, and more economic point on the matter that’s best summed up in two words: America first,” argues Chief Heritage Foundation Economist E.J. Antoni for The Daily Signal on this special video commentary.

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