The Chevron exception

[wtg]

Chevron stands as one of the last big shippers of Venezuelan oil after the U.S. seized a sanctioned tanker last week allegedly carrying the country’s crude to the black market.

The threat of another U.S. seizure has disrupted the country’s usually bustling traffic of dark-fleet vessels ferrying the Latin American country’s oil to China and Cuba. Several tankers are idling at Venezuelan ports and others are veering away from the region, vessel-tracking data show.

President Trump on Tuesday ordered a complete blockade of all sanctioned oil tankers going into and out of Venezuela, escalating his administration’s pressure campaign against strongman Nicolás Maduro.

For Chevron, though, it remains business as usual. The company is still sending oil tankers to the U.S. Gulf Coast, its operations unimpeded thus far by rising tension between Trump and Maduro.

https://www.msn.com/en-us/money/markets/us-tanker-seizure-has-paralyzed-venezuela-s-oil-business-except-chevron-s/ar-AA1StTiX

[DougG]

Key reasons that you’re missing that I’m in favor of this exception:

1. my father worked his entire career with the Union Oil Corporation
2. Union oil was purchased by Chevron in 2005..
3. so I still own some chevron stock…

see, there’s two sides to every argument.