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US gains leverage over Canadian oil, weakens China amid US plans to overhaul Venezuelan oil market
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The Trump administration’s plans to revitalize the Venezuelan oil market puts the United States at an advantage over Canada and serves to weaken China, according to energy experts.
Conservative politicians, including the leader of Canada’s conservative opposition party, are calling on Canadian Prime Minister Mark Carney to approve a new Pacific coast pipeline to help aid the country’s oil exports to overseas markets, amid fears that the United States’ involvement in Venezuela’s market will significantly impact the competitiveness of Canadian oil. Canadian lawmakers are concerned that increased oil exports from Venezuela to the United States, which is Canada’s largest oil purchaser, will displace oil from Canada, forcing the country to drop its prices in order to stay competitive.
Meanwhile, experts have added that the U.S. involvement in Venezuela’s oil market will also serve to weaken China.
«This is going to be bad for all petrostates, and Canada is basically a petrostate,» Energy and Environment Legal Institute’s Steve Milloy, a former fossil fuel industry lobbyist, told Fox News Digital.
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A «petrostate» is a term used to describe a nation whose government and economy heavily rely on revenue from oil and natural gas exports.
Donald Trump fist-bumps next to images of the Canadian and Chinese flags. (Getty Images)
«Canada, like all petrostates — Iran, all of OPEC, all those people — are going to be at our mercy,» Milloy added.
The leader of Canada’s conservative opposition party, Pierre Poilievre, said in a letter to Carney Tuesday, that the country needs to «move millions of barrels a day to overseas markets» in order to reduce Canada’s «dependence» on the United States’ oil market.
«Venezuela’s re-entry to American markets means time is running out,» Poilievre told Carney in his letter, arguing «our sovereignty depends» on buffering the Canadian oil markets from the United States’ influence amid its plans to go into Venezuela and overhaul its oil.
«Recent events surrounding Venezuelan dictator Nicolás Maduro emphasize the importance that we expedite the development of pipelines to diversify our oil export markets, including a new Indigenous co-owned bitumen pipeline to BC’s northwest coast to reach Asian markets,» Alberta Premier Danielle Smith also said Monday.
But, according to Carney, Canadian oil will remain «competitive,» citing its «clearly low risk» and «low cost» due to the country’s stable governance, Reuters reported Tuesday. «That makes Canadian oil competitive for the medium and long term,» Carney said. «We welcome the prospect of greater prosperity in Venezuela, but we also see the competitiveness of Canadian oil.»
President Donald Trump meets with Canadian Prime Minister Mark Carney in the Oval Office of the White House, on Tuesday, Oct. 7, 2025, in Washington. (Evan Vucci/The Associated Press)
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However, Milloy argued that if Canada is «forced to sell cheaper oil» it will significantly impact the country’s ability to generate revenue. But, Milloy also noted, it is also slightly «premature to say what’s going to happen just yet» as it will take time for the impact of the United States’ intervention in Venezuela’s oil market to take shape.
«There’s a lot yet to be worked out,» Milloy said.
In addition to Canada, Milloy suggested that President Donald Trump’s decision to go into Venezuela and take over its oil market also helps the United States’ leverage over China.
«Another important factor is that a lot of Venezuelan oil went to China,» he pointed out.
«China is basically oil poor, and that’s why China has been trying to electrify everything. They have a lot of nuclear power there, they’re running as much solar and wind as they can because they’re oil poor, they don’t have natural gas and and they need to insulate themselves when they do something stupid like invade Taiwan,» Milloy said. «If they’re dependent on oil and gas, the global market will just shut down. There will be an embargo, and they’ll be screwed. So they’re trying to electrify everything as much as possible — the trucks, the cars, just everything. And this is just another lever on China … They were buying their oil from Venezuela, probably at a cut-price, and that’s going to end. Trump said he would sell oil in China, but it’s not going to be a cut-price.»
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That sentiment was also echoed by U.S. Oil and Gas Association President Tim Stewart.
«Long term, what this does now, is it puts 40% of the entire production in the world under the U.S. security umbrella — that’s from Alberta to Argentina. And it completely resets the global geopolitical world in terms of the U.S.’s ability to project its interests across the world. We can do things internationally without having an immediate price spike in crude,» Stewart told Fox News.
Venezuelan President Nicolas Maduro, right, meets with Qi Xiaoqi, Special Envoy of President Xi Jinping, in Caracas, Venezuela, Jan. 2, 2026. (Presidency of Venezuela/Handout/Anadolu via Getty Images)
«Venezuela is the poster child for the Belt and Road Initiative. The numbers I saw with Venezuela now is about $20 billion to China over just the course of the last few years, and that’s largely backed by crude shipments,» Stewart continued. «What this says to China is ‘I’m sorry, but your failure to plan with good borrowing partners does not constitute our financial obligation.’ It also sends a message to China, ‘Hey get out of our hemisphere.’ … (China) takes about 80% of Venezuela’s crude right now so it’s going to have a big impact on them.»
energy in america,canada,china,economy,energy,venezuelan political crisis
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Trump’s proposed presidential library revealed as towering Miami skyscraper in striking new video
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A newly released animated video shows renderings of President Donald Trump’s proposed presidential library in downtown Miami, featuring a soaring waterfront skyscraper and museum space.
Trump shared the video on Truth Social early Tuesday, offering a first look at the proposed project, while his son, Eric Trump, posted it on X with additional details, describing the project as a «lasting testament» to his father and his legacy.
«Over the past six months, I have poured my heart and soul into this project with my incredible team,» Eric Trump wrote, adding that the waterfront landmark would stand as a tribute to «an amazing man, an amazing developer, and the greatest President our Nation has ever known.»
«These images have never been seen by the public — until today. Enjoy!» he added.
Eric Trump has been leading the project’s development and serves as president of the Donald J. Trump Presidential Library Foundation and is one of its trustees.
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Rendering shows the proposed Donald J. Trump Presidential Library as a towering skyscraper in downtown Miami. (@EricTrump/X)
The video, set to dramatic orchestral music, opens with sweeping aerial shots of the proposed waterfront site, showing landscaped grounds with palm-lined walkways, fountains and green spaces before revealing the towering glass structure.
It shows a tall glass tower topped with a spire, with Trump’s name displayed in gold lettering across the facade and a large American flag draped down the center. A presidential plane resembling Air Force One is showcased on the ground floor, alongside gold escalators reminiscent of Trump Tower in New York City.
Additional renderings show military aircraft displayed inside the complex and a large auditorium-style space featuring a towering gold statue of Trump, a stage and large-scale digital displays.
The library will feature a presidential aircraft display and gold escalators. (@EricTrump/X)
The design also includes replicas from Trump’s time in the White House, including the Oval Office, the West Colonnade and a planned ballroom.
The presidential library is set to be designed by Miami-based architecture and engineering firm Bermello Ajamil and built on a roughly 2.6-acre waterfront site.
Republican Gov. Ron DeSantis and the Florida Cabinet voted in late September to transfer the Biscayne Boulevard parcel to the Trump Presidential Library Foundation.
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Rendering shows the entrance to the proposed Donald J. Trump Presidential Library in Miami, featuring a gold-accented facade and aircraft display. (@EricTrump/X)
The proposed site, located near Trump National Doral, was briefly tied up in a legal battle after a federal judge paused the land transfer from Miami-Dade College before allowing it to proceed in December.
The Miami site is currently used as an employee parking lot for Miami-Dade College’s Wolfson Campus and is adjacent to the historic Freedom Tower, which served as a resource center for hundreds of thousands of Cubans who fled communism in the 1960s and 1970s and sought asylum in the United States. The 100-year-old structure is considered a symbol of the city’s vibrant immigrant heritage.
The site is surrounded by luxury high-rise apartment buildings and has waterfront views, facing directly toward the Kaseya Center, home to the NBA’s Miami Heat, as well as Dodge Island, where many of the world’s largest cruise liners dock.
A new rendering shows the proposed Donald J. Trump Presidential Library skyscraper illuminated at night in Miami. (@EricTrump/X)
The parcel was appraised at more than $66 million, according to media reports, but it could sell for at least $360 million, The New York Times reported, citing a real estate consultant.
President Donald Trump’s post also included a link inviting supporters to donate to the Donald J. Trump Presidential Library Foundation. The Trump Presidential Library Foundation’s other trustees are Tiffany Trump’s husband Michael Boulos and Trump attorney James Kiley.
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Trump carried Miami-Dade County by 13 points, the first Republican to carry it since 1988.
The unveiling comes as former President Barack Obama’s presidential center in Chicago is scheduled to open in June.
donald trump, politics, eric trump, miami, florida, white house, barack obama
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Russia allegedly sharing satellite intelligence on US bases with Iran, world leader claims
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Ukrainian President Volodymyr Zelenskyy warned that Russian reconnaissance satellites have recently imaged key U.S. and allied military facilities across the Middle East, raising concerns about potential targeting, after returning from a high-stakes trip to Gulf countries now under Iranian attack.
Zelenskyy’s remarks come as Ukraine deepens its role in the region, sharing intelligence and defense expertise with Middle Eastern partners facing Iranian missile and drone strikes.
In a March 28 post on X, Zelenskyy said he had been briefed that Russian satellites photographed multiple strategic sites «in the interests of Iran,» including bases and critical energy infrastructure across the Gulf.
«Everyone knows that repeated reconnaissance indicates preparations for strikes,» he wrote.
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A satellite image from Planet Labs shows a plume of smoke above Tehran, Iran, on March 1, 2026. (Planet Labs PBC)
According to Zelenskyy, the surveillance occurred over several days in late March. On March 24, Russian satellites reportedly captured imagery of the U.S.-U.K. military facility on Diego Garcia in the Indian Ocean. The following days included Kuwait International Airport and parts of the Greater Burgan oil field, as well as Prince Sultan Air Base in Saudi Arabia.
Additional sites imaged on March 26 included Saudi Arabia’s Shaybah oil and gas field, Turkey’s Incirlik Air Base, and Al Udeid Air Base in Qatar, one of the largest U.S. military installations in the region.
Some of the locations identified by Zelenskyy, including places in Kuwait and Saudi Arabia, have been targeted in recent Iranian attacks, though it remains unclear whether the satellite imagery he described was directly used in those operations.
The warning follows Zelenskyy’s recent visit to Saudi Arabia, the United Arab Emirates, Qatar and Jordan, where he discussed security cooperation and shared intelligence with regional leaders.
Incirlik Air Base, Turkey, passenger terminal. (U.S. Air Force)
In an interview published Monday by Axios, Zelenskyy said Ukraine had provided Middle Eastern partners with information about Russian support for Iran, including potential targeting assistance.
«I think Russia is supporting Iran directly, 100%,» Zelenskyy told Axios. «The same format of sharing satellite images like they did in the case of Ukraine.»
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Map of U.S. military bases Iran could target. (Fox News)
Ksenia Svetlova, an associate fellow at Chatham House, said recent developments point to increased cooperation in that space. «There is more cooperation in everything that has to do with intelligence,» she said, citing reports that Russia has provided Iran with «a target list, basically, through their satellites, American targets, but also air targets in the Gulf.»
Svetlova added that such support enables Russia to assist Iran without deploying troops or equipment.
«They are doing for the Iranians whatever they can without spending money, spending troops, or spending equipment,» she said.
Russian President Vladimir Putin holds his annual end-of-year press conference in Moscow on Dec. 19, 2024. (Alexander Nemenov/AFP via Getty Images)
The White House has not confirmed the intelligence-sharing but said it is not impacting U.S. operations.
«Nothing provided to Iran by any other country is affecting our operational success. The United States military has struck more than 11,000 targets and destroyed more than 150 Iranian naval vessels, leading to their missile attacks and drone attacks decreasing by 90%. The terrorist Iranian regime continues to be crushed by the full might of the most lethal fighting force in the world,» White House spokeswoman Olivia Wales told Fox News Digital.
Secretary of State Marco Rubio also downplayed concerns about Russia’s role, telling reporters Friday: «There is nothing Russia is doing for Iran that is in any way impeding or affecting our operation or the effectiveness of it.»
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Foreign workers look at a tall plume of black smoke ascends following an explosion in the Fujairah industrial zone on March 3, 2026. Iran’s strikes on Gulf neighbors since February 28, following the U.S.-Israeli attack, forced the UAE to shut its airspace, blindsiding travelers who thought they were headed to one of the region’s safest holiday destinations. (Fadel Senna / AFP via Getty Images)
Lt. Gen. Richard Newton (Ret.), a former U.S. Air Force assistant vice chief of staff, said the reports should not come as a surprise.
«The latest reports that Russia provided essential imaging intelligence to the Iranian regime to target a U.S. air base in Saudi Arabia should surprise no one. Putin is our adversary who can’t be trusted.»
«We should avoid a direct conflict with Moscow,» he added, «but there must be consequences for Russia aiding and abetting the Iranian regime that harms American military personnel and our assets.»
Ukraine’s President Volodymyr Zelenskyy and Polish Prime Minister Donald Tusk (not pictured) attend a press conference at the Chancellery of the Prime Minister in Warsaw, Poland, Jan. 15, 2025. (Aleksandra Szmigiel/Reuters)
Russia has not publicly responded to Zelenskyy’s claims. Fox News Digital has reached out to the Russian government and the Iranian mission to the United Nations for comment and did not receive responses in time for publication.
Carrie Filipetti, executive director of the Vandenberg Coalition and a former senior State Department official, told Fox News Digital the reports reflect a broader and growing threat.
«There is no clearer signal that Russia is a dangerous adversary than the continued reporting that Russia is providing intelligence targeting Americans to a regime currently engaged in combat against the United States,» Filipetti said.
«American service members’ lives are at continued risk because of Putin’s war machine,» she added, warning that Washington must act to «hold the Russian regime accountable and prevent future American deaths.»
U.S. Army soldiers train at al-Asad air base. The base is located in Western Iraq. (Source: U.S. Army )
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Zelenskyy has also questioned ongoing discussions about easing sanctions on Russia.
«There must be pressure on the aggressor. And lifting sanctions is certainly not pressure,» he wrote.
war with iran, russia, iran, ukraine, volodymyr zelenskyy
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