President Donald Trump says American Big Oil “want to go in so badly” into Venezuela and spend billions of dollars, but the reality is U.S. oil producers are hesitant, and it will take many years and many tens of billions of dollars to rebuild Venezuela’s decimated oil sector after the U.S forcibly removed and arrested…
President Donald Trump’s plans to restore Venezuela’s beleaguered oil industry faces a series of challenges that will cost U.S. oil companies many billions of dollars to overcome. Over the weekend, U.S. forces arrested Venezuelan President Nicolas Maduro on drug trafficking charges, with Trump claiming the U.S. would “run” the country and take over the country’s…
The U.S. seizure of a massive oil tanker offshore of Venezuela this week represented a brazen escalation of the Trump administration’s repeated military incursions in the area. It’s also a broader sign of the increasing involvement of the U.S. in South America’s petroleum politics. The U.S. paces the world in oil and gas production, but…