"The U.S. paces the world in oil and gas production, but President Trump's new national security strategy-the so-called "Trump corollary"-emphasizes greater U.S. control of the Western Hemisphere, including much more influence over South America, which increasingly leads the globe in new oil output growth. Almost everything the Trump administration is doing in South America-from pressuring Venezuela to a $20 billion Argentina bailout to defending Guyana's territorial waters-is at least related to the black gold that is crude oil."
"While the White House emphasizes national security concerns over drug trafficking and immigration as it bombs boats and kills more than 80 people thus far in repeated, legally questionable actions, Venezuela is home to the world's largest proven oil reserves. Regime change and new laws opening Venezuelan oil to more U.S. and foreign investment could lead to much greater oil flows."
The U.S. seized a massive oil tanker offshore Venezuela, marking a brazen escalation of military incursions in the region. President Trump's national security strategy, labeled the "Trump corollary," pushes for greater U.S. control of the Western Hemisphere and more influence over South America, which is leading global growth in new oil output. Many U.S. moves in South America—from pressure on Venezuela to a $20 billion Argentina bailout and defending Guyana's waters—are tied to oil interests. Venezuela holds the world's largest proven oil reserves, and regime change plus new laws could open those reserves to U.S. and foreign investment.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]