Canadian trade policy just suffered a massive loss. The one thing the USA really needed from Canada was their oil from Alberta. We import about 4 million bpd of oil from Canada. That oil is mostly landlocked and most can’t be exported to China. Now Venezuela heavy oil will flow to the USA. 1 million bpd now (no longer going to China) and it can easily grow to 2 million bpd in the coming years as American experts help Venezuela rebuild their infrastructure for oil exports. Canadian oil exports just lost any pricing power they might have expected.