I had made the parenthetical statement that Venezuelan oil imports to the US has been declining rapidly in recent months… (#msg-133114324). This statement does not stand when the facts are examined (i.e. see: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTIMUSVE1&f=M ). My only excuse was that I was parroting what I had read somewhere (a reference I can no longer locate). There has been a decrease of imports over the past several years, but it has not accelerated in recent months.
A recent report by Alex Nussbaum et al in Bloomberg (July 18) gives a more detailed analysis of the impact of an abrupt ban of Venezuelan oil upon US oil companies. Selected quotes:
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