Venezuela's reserves are exaggerated and its infrastructure degraded. It will make inroads in the U.S. market but probably not quickly

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After the arrest of Venezuelan president Nicolás Maduro, United States President Donald Trump made clear this week he expects Venezuela to produce and export more oil in the coming years — to America’s strategic benefit. That raises the question: with Venezuela taking a greater share of U.S. consumption, can Canada still be an energy superpower?

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The answer is yes. If we don’t saddle it with high carbon taxes, decarbonization requirements and limited pipeline transportation, Alberta heavy oil will remain competitive for many years to come, not only in the United States but throughout the world. In the past 10 years,........

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