Keystone’s Impact on Venezuela Muted by Waning Imports
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It’s an article of faith among supporters of the proposed Keystone XL pipeline: approving the project would allow the U.S. to use more crude from Canada and less from Venezuela and other unfriendly regimes.
The reality, according to analysts and others who watch global energy trends, is more complex. U.S. imports of crude from Venezuela have been falling for decades, though TransCanada Corp.’s proposed pipeline may hasten the trend.