So if that mismanagement stops, there’s suddenly an ocean of new oil to compete with the Canadian oil servicing the U.S. The good news, however, is that Canadian blends of oil are still among the cheapest in the world, preserving their attractiveness for American buyers. Also, the system of pipelines transferring Alberta oil to U.S. refineries is extremely efficient, and would remain competitive even if convoys of oil tankers started being dispatched out of Caracas.