US Looking For Heavy Oil -- April 24, 2019

Looking for heavy oil (in all the wrong places? LOL).

Note:

• Venezuela: say what?
• Mexico: in deep doo-doo!

From wiki:

If completed, the Keystone XL would have added 510,000 barrels per day increasing the total capacity up to 1.1 million barrels per day.

Let's see:

• Saudi Arabia: 750K
• Nigeria: 75K
• Iraq: 300K
• Kuwait: 75K
• Total: 1.2 million bopd

One could argue that had President Obama not killed the Keystone XL, North America's dependence on "foreign oil" or OPEC oil would have been reduced to zero. Saudi Arabia would still import their oil to their refinery along the US gulf coast, but that would have been about it. And US gasoline would have been significantly less expensive, all things being equal.

Oilmen realized decades ago that the US would need heavy oil from Canada. No one ever expected a president to make such an incredibly stupid strategic decision. Even Hillary, as SecState, supported Keystone XL until she didn't.

I assume President Obama would have made up the heavy oil deficit with heavy oil from Iran. Only Valerie Jarrett knows for sure.