Making Money Minute with Ron Hiebert - Canada Loses A Bargaining Chip
Trump’s capture of Venezuelan dictator Maduro, is not great news for Canada. Many US refineries are configured to process heavy oil. Currently much of that feedstock comes from Canada, because until recently, our main competitor, Venezuela, was under embargo, so very little of their oil reached the US. American intervention in Venezuela changes all that. US refiners on the Gulf of Mexico will get access to Venezuelan heavy crude almost immediately. This will not only hurt Canadian producers, but remove a major bargaining chip we had in our trade negotiations with the US. For more information listen to our Making Money Podcast with Ron Hiebert and Graham Hicks at letsmakemoney.ca or CFCW.com.
