[John Valentine]

This guy is an ignorant nutbag.

Crude oil is relatively fungible across world markets. Whatever oil he sells elsewhere simply displaces other oil that becomes available to us.

The only thing he hurts is market efficiency, but as a Socialist he has no idea what that is. I guarantee that as he destroys market efficiency in Venezuela no amount of oil revenue will make up for the poverty and ruin in his wake.

[agere_contra]

Crude oil is relatively fungible

Well said

[Smokin' Joe]

Crude oil is relatively fungible across world markets. Whatever oil he sells elsewhere simply displaces other oil that becomes available to us.

You, sir, get it.

[dennisw]

Crude oil is relatively fungible across world markets. Whatever oil he sells elsewhere simply displaces other oil that becomes available to us.

 Then how come the ChiComs have locked up Venezuelan and Iranian oil in long term agreements. Trade deals. Arms for crude deals.

Answer:
Oil isn't as fungible as you think. In a dramatic oil supply squeeze you will find it's  fungibility dropping