The war in Ukraine has created an especially volatile oil market, and the Biden administration is racing to counter rising prices. The United States needs to replace as much as 672,000 barrels per day, and some see potential in Venezuela to help. Chevron is already reportedly building a trading team to market oil from Venezuela in joint ventures it shares with state-run PDVSA. On March 8, the White House banned all imports of coal, oil, and liquefied natural gas from Russia as the United States tightened sanctions on the Kremlin in response to the Russian invasion of Ukraine. As a show of condemnation and an attempt to de-escalate Russian aggression before the war spreads, the United States is trying to hit Russia where it hurts – its energy industry. But now, the White House needs to find a new source of energy imports to fill that vacuum, and they’re […]