The US arrest of Venezuelan President Maduro has sent shockwaves through Canada. In an editorial commentary, Canadian media reported that such actions mark the advent of American imperialism; some experts also noted that this will seriously impact Canada's oil economy, serving as a warning.
The editorial from Canada's largest newspaper, The Globe and Mail, on the 4th was titled “Venezuela's Fate is a Warning for Canada: US Military Action to Capture Maduro Marks Formal Entry of American Imperialism.” The opening paragraph first criticizes Maduro for his innumerable crimes, adding that no one needs to shed tears for him.
However, the article then notes that no one should harbor any expectations about the United States, because President Trump has no interest in restoring democracy to Venezuela, nor is he intent on helping those who have suffered under Maduro and his predecessors over the past 30 years. The only word to describe this act is “plunder.”
The editorial states that Trump’s motivation is simple and ancient: imperialism.
Directly Erodes the Interests of Canada's Oil Economy
Pancratz, a professor at the University of British Columbia, published an article in the National Post, stating that Trump’s actions towards Venezuela also represent the opening of a new front in economic attacks on Canada, because if Venezuelan oil is once again exploited and exported under US control, it will directly erode the interests of Canada’s oil economy.
According to the London Energy Institute, Venezuela holds about 17% of the world's oil reserves, or 303 billion barrels, exceeding that of Saudi Arabia and double the reserves in Alberta, Canada.
Retired Canadian diplomat Barber holds the same view, stating that in the 1990s, Venezuela was once the largest crude oil exporter to the United States, only to be replaced by Canada later on. If, in a few years, Venezuela’s oil production were to recover, it would surely harm Canada. Therefore, vigorously promoting diversification of crude oil markets is an urgent goal.