Economists and commodity analysts believe that the US-led transformation in Venezuela should prompt Canada to develop a stronger sense of urgency to build another crude oil pipeline connecting the oil-rich province of Alberta to the Pacific coast. Scotiabank economist Derek Holt said that in the context of President Trump's efforts to obtain more than 300 billion barrels of Venezuelan oil reserves, it would be prudent to build a new pipeline to the Pacific Ocean. Holt pointed out that Trump may push for the conversion of Venezuelan oil originally intended to be exported to China to the US, “thereby squeezing Petro-Canada's market opportunities in the US and opening up opportunities for Canadian exports to Asia.”

Economists and commodity analysts believe that the US-led transformation in Venezuela should prompt Canada to develop a stronger sense of urgency to build another crude oil pipeline connecting the oil-rich province of Alberta to the Pacific coast. Scotiabank economist Derek Holt said that in the context of President Trump's efforts to obtain more than 300 billion barrels of Venezuelan oil reserves, it would be prudent to build a new pipeline to the Pacific Ocean. Holt pointed out that Trump may push for the conversion of Venezuelan oil originally intended to be exported to China to the US, “thereby squeezing Petro-Canada's market opportunities in the US and opening up opportunities for Canadian exports to Asia.”