WASHINGTON (Godmode-Trader.de) – The US government may today announce sanctions on Russian oil imports. This raises the question of how Washington intends to replace oil from the warring country. Many options are possible. Reports have emerged that the US government may persuade Saudi Arabia to produce more oil. Venezuela can also bridge this gap. To do so, however, would require the easing of sanctions against the country.
Canada has long said that its crude does not come from “rogue countries like Venezuela, Iran or Russia”. Alberta Energy Secretary Sonya Savage responded to Elon Musk’s comments over the weekend that “we need to increase oil and gas production immediately”: “Agreed. And it must come from Alberta, the country with the third largest oil reserves. Alberta means America for energy security. Real emissions reduction, reliable, at your doorstep.”
Alberta Premier Jason Kenney said that during President Biden’s visit to Alberta “we can discuss how we can deliver the nearly 1 million barrels of responsibly produced energy every day from America’s closest friend and ally! It only needs the approval of Keystone XL. Easy.”
US President Biden revoked the license for the Keystone XL oil pipeline from Canada to Nebraska the day he took office. Construction has stalled. There were concerns that the project could worsen climate change.
The Alberta government was already buoyed by the prospect of a pipeline bringing in billions of dollars. The pipeline would have brought oil from the sands of western Canada to Steel City, Nebraska. In Nebraska it would have been connected to other pipelines supplying oil refineries on the US Gulf Coast.
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