Possible Oil Sanctions on Venezuela


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. 


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