Reason #5754 That Trump Was Elected

Venezuelan Oil Cargoes to U.S. Ports Plunge as Sanctions Bite

Venezuela’s biggest market for crude sales -- the U.S. -- is becoming a harder and harder place for the socialist nation’s oil producer to do business as sanctions and diminishing quality controls discourage would-be buyers.

Oil sales to U.S. buyers have fallen for two straight months and now are 56 percent lower than their 2016 average, according to ship-tracking data compiled by Bloomberg. Ever since President Donald Trump slammed the regime of Nicolas Maduro with sanctions in August, American refiners have found banks reluctant to provide letters of credit for purchases of oil from state-controlled Petroleos de Venezuela SA.

Socialism, the dream that keeps on killing.