Venezuela Threatens Canada's Future?

Canada’s energy future may be at risk—but most Canadians don’t realize it yet.

David Leis talks with Dan McTeague of Canadians for Affordable Energy about how Canada “put all its eggs in one basket” by relying almost entirely on the U.S. as its oil customer.

With the recent U.S. removal of Venezuelan President Nicolás Maduro and Washington tightening control over Venezuela’s massive oil reserves, the United States could shift its energy strategy—potentially boosting Venezuelan heavy crude supply and reducing its dependence on Canadian oil. Venezuela once supplied the U.S. Gulf Coast with heavy oil, and its resurgence could squeeze Canada’s export advantage.

Canada has already been filling the gap left by Venezuela’s 30‑plus years of decline, helping U.S. refineries that are designed for heavy crude. Now, the question is whether Canada’s energy policy, pipeline capacity, and trade strategy can adapt fast enough or whether Canada has lost its bargaining chip and put its economy in jeopardy.