Chet wordmark with orange bowtie Chet wordmark with orange bowtie

U.S. Poised to Grant Chevron License to Pump Oil in Venezuela - WSJ

The developments come just ahead of new Western sanctions on Russian oil that threaten to tighten global supplies and lift prices. The Biden administration’s move to ease sanctions on Venezuela has been seen as an effort to send a well-timed psychological signal to markets concerned about a potential future shortfall.

Shifting oil profits from one ruthless dictator to another, all while American oil stays in the ground.

For the Biden administration, U.S. domestic political blowback over the policy change is seen as manageable following the midterm elections, said people familiar with the matter, partly because Florida, whose large Cuban and Venezuelan communities support Venezuelan sanctions, is now seen as lost to the GOP.

Nice to see that the political calculation was carefully weighed by the Virtue Signaler-in-Chief.

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