[woodpanel]

> 20 mil bbls of oil per day

Almost double that of Saudi-Arabia, roughly 20 times that of Venezuela

Imported heavy crude rose from 12% 50 years ago to 70% today.

> pretty much anything you can distil from heavy crude, you can also distil from light crude

You can, but at what cost and where? The largest raffineries are apparently built for heavy crude and you can’t just retrofit them to handle light crude.

> with about 2/3 of imports coming from Canada

There are just two other countries equipped with large enough resources to compete for that market share: Russia and Venezuela