Canada's cheaper, cleaner and lower-risk oil can rival a resurgent Venezuela, Carney says

Prime Minister Mark Carney says he's not worried about the prospect of increased oil production from Venezuela challenging Canada's energy exports because Canadian oil is cheaper, cleaner and lower-risk.

Carney made the comments at a news conference in Paris on Tuesday after being asked if he was concerned that U.S. President Donald Trump's play for Venezuelan oil this week increased the need to speed up the construction of another bitumen pipeline from Alberta to the B.C. coast.

"Canadian oil will be competitive because it is low-risk, clearly low-risk, low cost — the marginal costs, there's been huge progress on getting down the costs, and low carbon, which is what the Pathways project carbon capture will bring," Carney said.  After launching military strikes against Venezuela and arresting Venezuelan leader Nicolás Maduro, Trump said U.S. oil companies would go into the country, fix the oil infrastructure and oversee the industry.