A Sudden Oil Shortage?

The US currently imports some 1.3 million barrels of oil or nearly seven percent of our daily consumption from Venezuela. You may not have noticed this, but the Venezuelan President is currently having a row with the US over a number of issues ranging from our alleged attempts to overthrow him to his claims against the oil companies for back taxes. From time to time he threatens to stop selling his 1.3 million barrels to the US each day.

There are of course many other events out there which could impede our 14 million barrel per day of oil imports. With the world
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