@JdaBest

The Capture of Maduro and Energy Market ramifications. Venezuela, home to the world’s largest proven oil reserves, now sits at the center of a major geopolitical shift. With Nicolás Maduro captured and U.S. influence likely to extend over Venezuelan oil assets, the balance of global crude supply could change meaningfully. A U.S.-controlled reopening of Venezuela’s energy sector would bring heavy crude production back online, directly competing with Western Canadian Select (WCS). Both grades serve similar refinery demand profiles, particularly in the U.S. Gulf Coast, making Venezuelan barrels an effective substitute. For Canadian producers, that dynamic could pressure WCS differentials and diminish pricing power, even as global benchmarks stabilize on improved heavy oil availability. For investors, U.S. control of Venezuelan output points to a reconfiguration of Western Hemisphere energy flows: improved refinery margins, tighter spreads in heavy crude benchmarks, and potential underperformance in Canadian oil sands equities relative to integrated U.S. refiners and midstream operators positioned for throughput gains. Yes, the Trump Corollary has implications for global resource markets !!! Early days, but if Iran flips as well ?