CARACAS, Tuesday November 06, 2012 | Update

The US curbs dependence on foreign oil

Canada and Mexico outweigh Venezuela as US energy suppliers

Caracas' hostility towards Washington has undermined Venezuela's standing as a reliable oil supplier (File photo)
Tuesday November 06, 2012  02:19 PM
Over the last 100 years, the US-Venezuela bilateral relation has unavoidably been associated with oil -a key factor in the international and hemispheric geopolitical arena. Nonetheless, precisely oil has been in the center of discord and disdain between the US and the Venezuelan Governments over the last 14 years.

The US is holding on Tuesday a presidential race where the oil-related proposals made by Democrats and Republicans hardly defer.

The US keeps on curbing its dependence on imported oil to meet two of its goals: consolidating both domestic non-conventional hydrocarbon production and oil supply from two strategic allies, Canada and Mexico; and reducing dependence on unreliable overseas energy sources.

In this scenario, the hostility of the Venezuelan Government towards Washington has turned Venezuela into a problem rather than a solution (regarding energy), explained economist and former director of state-run oil company Pdvsa José Toro Hardy. 

"There may not be much difference between Republicans and Democrats on oil policy with respect to Venezuela. This is mainly due to the drop in Venezuela's oil exports to the US and even more because of Venezuela's policy. The US is concern about its dependence on foreign oil. That explains why it has fostered its oil relations with Canada and has designed a project including an oil pipeline from Canada to the Gulf of Mexico," Toro Hardy asserted.

Translated by Jhean Cabrera
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fotter Estampas
fotter Estampas