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The Peter Zeihan Podcast Series
Venezuelan Crude Is Off the Menu…But You Can Still Get It Around Back || Peter Zeihan
Mar 10, 2025
The podcast dives into the complex dynamics of U.S.-Venezuela relations, focusing on the controversial oil import policies under both Trump and Biden. It highlights how these policies have transformed the energy market while also shedding light on the ongoing Venezuelan migration crisis. Listeners will gain insights into the intricate interplay of geopolitics and energy resources, revealing that while Venezuelan oil might be officially off the table, alternative routes still exist.
06:11
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Quick takeaways
- The U.S. energy policy struggles to balance the need for crude oil imports while navigating the political complexities of engaging with Venezuela.
- Recent changes in U.S. migration policy towards Venezuelan migrants highlight the potential economic contributions of skilled refugees amidst ongoing political tensions.
Deep dives
Impact of U.S. Policy on Venezuelan Oil Imports
The recent revocation of Chevron's operating contract to import Venezuelan crude highlights the complexities of U.S. energy policy, especially in the context of global supply chains. The Biden administration initially sought to stabilize gasoline prices by engaging with OPEC and considering imports from countries like Venezuela, which exports the heavy sour crude that U.S. refiners need. However, this strategy proved flawed, as the actual volume of Venezuelan oil available was limited compared to larger suppliers like Canada. Ultimately, the focus on securing oil access inadvertently benefited the Venezuelan regime without addressing the underlying political issues, leading to criticism from various factions.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode