Although it is difficult for Venezuelan oil to replace Canadian crude oil in the short term, this threat highlights the importance of trade diversification for Canada. Charles St-Arnaud of Servus Credit Union said that Canada currently exports about 4.5 million barrels of crude oil to the US every day, while Venezuela currently produces only 1 million barrels per day, and the latter requires significant investment to increase production. Charles added that geography is also beneficial to Canada because most of Canada's crude oil is shipped directly to refineries in the Midwest of the United States. He believes that the cost of sending oil tankers from Venezuela to the northwestern Pacific region has reduced the possibility of replacement, but Canadian oil exports to the Gulf Coast may be threatened.

Although it is difficult for Venezuelan oil to replace Canadian crude oil in the short term, this threat highlights the importance of trade diversification for Canada. Charles St-Arnaud of Servus Credit Union said that Canada currently exports about 4.5 million barrels of crude oil to the US every day, while Venezuela currently produces only 1 million barrels per day, and the latter requires significant investment to increase production. Charles added that geography is also beneficial to Canada because most of Canada's crude oil is shipped directly to refineries in the Midwest of the United States. He believes that the cost of sending oil tankers from Venezuela to the northwestern Pacific region has reduced the possibility of replacement, but Canadian oil exports to the Gulf Coast may be threatened.