Secretary of State Tillerson announced that the Trump Administration is considering oil sanctions against Venezuelan President Maduro. St. Thomas University Assistant Professor Roger Morefield said,
“I believe it’s a political bluff. We all know Venezuela is in terrible shape under Maduro and Trump is trying to show support for his opposition. “
If the sanctions are met, what will it do to our oil prices? “Not too much. Venezuela supplies the U.S. with 8% of its imported oil and there are other countries are able and happy to fill in the gap pretty quickly.” Said Morefield.