CALGARY — Conservative leader Pierre Poilievre has warned Ottawa that an American-led rebuild of Venezuela’s oil sector could displace Canadian exports to the US.In an official letter to Prime Minister Mark Carney that was posted on social media Tuesday, Poilievre stated that the recent capture of Venezuelan President Nicolás Maduro has “altered the global energy landscape” and is urging the Liberal government to “immediately approve a pipeline to the Pacific Coast.”.US President Donald Trump sent shockwaves through the global oil markets on Saturday when he said that his administration planned to take control of Venezuela’s oil sector and was encouraging American companies to move in to rebuild the industry.Poilievre said that Canada had “rightfully refused to recognize Maduro’s illegitimate regime,” but also warned that Venezuela’s heavy crude production could “rapidly rebound to historic levels” if the US potentially lifts sanctions.Venezuela currently has the world’s largest proven crude oil reserves, measured at roughly over 300 billion barrels, according to the US Energy Information Administration, equating to 17% of all global oil reserves.“Every barrel the United States sources from Venezuela could mean one less barrel these refineries would buy from Canada. We therefore need new markets to sell to, and we need them quickly,” Poilievre said.“We need to move millions of barrels a day to overseas markets quickly to reduce our dependence on the US market.”.WIECHNIK: US-backed Venezuela oil rebuild threatens Canadian crude exports.Poilievre stressed in the letter that Carney had not clearly stated his support for a new pipeline to the BC coast and that the recent Memorandum of Understanding (MOU) the prime minister signed with Alberta Premier Danielle Smith “commits only to referring a potential pipeline to a new federal office for further consideration, meaning years of additional process, delay, and uncertainty.”The MOU has also stated that an application for a pipeline project will be ready to submit to the federal Major Projects Office by July 1.In his letter, Poilievre stated that the Conservatives are calling on Ottawa to commit to approving that project proposal within 60 days.Poilievre’s comments come after Carney downplayed the impact Trump’s pledge to boost oil production in Venezuela would have on Canada’s energy sector.Speaking to reporters in Paris on Tuesday at a meeting of the “Coalition of the Willing” to support Ukraine, the prime minister said that he welcomed the removal of Maduro from office.“It creates the possibility for a democratic transition in Venezuela. We very much support that,” Carney said.He added that increased Venezuelan oil production won’t be a threat to Canadian producers and would benefit Venezuelans, adding much-needed stability to that nation.“Canadian oil will be competitive because it is low-risk and low-cost,” Carney said, adding that a proposed carbon capture project in Alberta would make crude more attractive to buyers concerned about greenhouse gas emissions.“That makes Canadian oil competitive for the medium and long term,” Carney stated.
