The Daily Signal America First Hits Venezuela—And Canada Pays the Price | E.J. Antoni
Jan 11, 2026
E.J. Antoni, Chief Economist at the Heritage Foundation, delivers sharp insights on the geopolitical shifts triggered by recent events in Venezuela. He discusses how U.S. access to Venezuelan oil could reduce reliance on Canadian exports, altering energy dynamics in North America. With potential lower oil prices and renewed investment in Venezuela's infrastructure, he emphasizes the economic benefits for both nations. Antoni warns that Canada could lose its leverage amidst these changes, reshaping long-term trade relationships.
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U.S. Energy Leverage Shifts South
- U.S. control of Venezuelan oil shifts strategic energy dependence away from rivals and Canada.
- E.J. Antoni argues this reduces China's influence and strengthens U.S. national security through reliable oil flows.
Venezuelan Crude Can Replace Canadian Oil
- Venezuelan crude can substitute for Canadian heavy crude at Gulf refineries, reducing U.S. reliance on Canada.
- Antoni says redirected Venezuelan shipments are already heading to U.S. refiners, pressuring prices downward.
More Oil Lowers Prices Broadly
- Increased Venezuelan oil supply should lower U.S. fuel and energy prices, easing inflationary pressure.
- Antoni links lower energy costs to broad price relief across goods and services in the economy.