US refineries are specialized for it. Which is why it is so important to the US. Refineries aren’t cheap and refitting them ain’t cheap. Built on the idea that we could indefinitely exploit South America.
Singer acquired Citgo at a bargain price in large part due to the embargo, with limited exceptions, on Venezuela oil imports to the United States. Citgo’s refiners are purpose-built to process heavy-grade Venezuelan “sour” crude. As a result, Citgo was forced to source oil from more expensive sources in Canada and Colombia. (Oil produced in the United States is generally light-grade.) This made Citgo’s operations far less profitable.
How do they afford the impossibly cheap gas at the special Trump gas stations? Stealing the oil.
They already have Venezuela for that
Not sure if it matters, but Venezuelas oil is heavy crude. Its good for bunker fuel for ships, but cant be easily made into gasoline.
Also, I doubt we are there for oil-- even if we are pretending we are. It’ll be for something else.
US refineries are specialized for it. Which is why it is so important to the US. Refineries aren’t cheap and refitting them ain’t cheap. Built on the idea that we could indefinitely exploit South America.
Only Citgo
https://www.motherjones.com/politics/2026/01/trump-venezuela-oil-maduro-billionaire-paul-singer-citgo-elliot-management-hedge-fund/
Rare earth