John P. Ruehl
Donald Trump has been clear about framing oil as a central part of Washington’s interests in Venezuela, but whether the country’s vast reserves can translate into real prosperity is unclear.
Following the dramatic seizure of Venezuelan President Nicolás Maduro on January 3, 2026, Trump’s comments about taking control of Venezuela’s oil industry quickly triggered accusations of “neo-imperialism”. Critics argued that pledges to share profits with Venezuela were little more than cover to protect the interests of America’s major oil companies. Yet despite the allure of Venezuela’s reserves, many of those major oil firms have been notably cautious, citing uncertainty over the country’s political trajectory and the durability of legal and financial protections.
Venezuela sits atop more than 300 billion barrels of proven crude reserves, constituting roughly 17 percent of the global total. This is more than Saudi Arabia’s reserves, which is the world’s most recognizable oil power. The two countries have comparable population sizes, yet Saudi citizens rank among the wealthiest in the world, while Venezuela has become one of the poorestcountries in the Americas.
No comments:
Post a Comment