Oil Market 101
1-4
- Shale produces light sweet crude. The most economic products are gasoline & naphtha.

- To get other products economically like diesel & fuel oil, imported heavier crude is needed from #Canada, #Mexico, Venezuela, Colombia & Iraq.
2-4 Latin American countries' exports to the US are maxed out. The only way US refiners can compensate for loss of Candian crude is to import from Venezuela. They cannot because of sanctions. The only way US refiners can get additional crude from Latin America to bid prices up!
3-4 The US will become more dependent on Iraqi crude. Boy! Let conspiracy theories fly again! From Bush to Biden! (Blame on the B)

Here are more fireworks: Americans will pay the Iraqis who take the dollars and pay Iran for imported electricity natural gas, and gasoline!
4-4 So here are your alternatives To Canada:

Iraq and Venezuela, two countries that are known for their highest environmental standards in the world! Right?

#Oil #OOTT #Iraq #Venezuela #Canada #Shale
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