Tornado Alley (PROG)

[fuagf]

Can't find a figure of barrels/day which would push the price of oil down, but suspect you are right about that Palast statement. And Venezuela would be exporting some oil now so he saying Venezuela has a capacity to export 2 million b/d may not mean that much extra a day would go into supply. According to this 2 million/d

The gap between the target announced by OPEC Plus, which makes up nearly half of the world’s oil output, and actual output seems to be growing. The International Energy Agency, a Paris-based forecasting group, pegged the shortfall of the 19 OPEC Plus countries covered by quotas at 650,000 barrels a day for November. Energy Aspects forecasts that the deficit will reach just over one million barrels a day this month, or 1 percent of world supplies, and will probably increase later in the year.
https://www.nytimes.com/2022/01/14/business/energy-environment/oil-prices-opec.html

would be some 2 percent of world supplies.

It looks Palast is more focused on making a case for the Venezuelan people.

"Yes, the Germans have agreed (for this week at least) to cancel Nord Stream 2, the new gas pipeline from Russia. But that’s one more cruel joke in which the Ukrainians are the punchline, ignoring Nord Stream 1. Germany continues to take Russian oil and Nord Stream gas, sending Putin nearly $1 billion a day. This is the commercial equivalent of the Hitler-Stalin pact.

The US and UK governments have seized Venezuela’s oil revenues (and even its gold reserves), leaving its people to starve. Yet, we are not holding back payments to Putin." Your link - https://www.gregpalast.com/venezuela-can-bring-putin-to-his-knees/

Then there is one effect on Putin the ending of the American embargo could make.

“If the US stopped importing Russian oil, that would mean that likely many other countries would also no longer be importing Russian oil, and that would make a very tight oil market already much tighter, and that would drive up the price of oil and that in turn can drive inflation, which in turn can affect the US economy,” Pankratz said.
https://www.aljazeera.com/news/2022/3/3/how-much-oil-does-the-us-import-from-russia

If the Americans bought Venezuelan oil instead of Putin's that could hit Putin's and his inner circle's cash flows fairly hard.

After watching .. Watched it entirely just now. Holy shit.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168094525 , it doesn't even feel that would make much of a difference.