The Trump administration has made no secret that it covets Venezuela’s oil reserves. What happens next could have serious implications for the planet.
Tag: Nationalization of Industry
Venezuela Braces for Economic Collapse From U.S. Blockade on Oil Exports
Venezuela could lose the bulk of its oil export revenues this year if the U.S. blockade stays in place, according to internal government estimates, a scenario that would set off a humanitarian crisis.
Trump Long Wanted to ‘Take the Oil.’ He Says He’ll Do It in Venezuela.
The White House had pointed to drug trafficking and migration as reasons to crack down on Nicolás Maduro. But oil emerged as central to President Trump.
Trump’s Claim That Venezuela ‘Stole’ U.S. Oil Fields Sets Off a Nationalist Reaction
President Trump said the United States wanted to reclaim expropriated oil assets, setting off a nationalist reaction in a country where the resource holds a mythical status.
German Government Nationalizes Gas Unit Seized From Gazprom
The former Gazprom Germania, a subsidiary of the Russian state-owned gas monopoly, is deemed essential to Germany’s energy security.
German Government Nationalizes Uniper in Move to Secure Energy Supply
The utility company, once Germany’s largest importer of Russian gas, has been squeezed since Moscow cut the flow of the fuel, leading to a partial bailout in July that is now a full takeover.
France Will Renationalize EDF
The state already has a majority stake in France’s main electricity and nuclear company. The move reflected President Emmanuel Macron’s desire to champion economic and energy sovereignty.
Hundreds of Planes Are Stranded in Russia. They May Never Be Recovered.
Western companies that own the planes face little prospect of getting them back, meaning billions of dollars in losses.
Venezuela’s Socialists Embrace Business, Making Partner of a ‘Parasite’
Decades of socialist-style control devastated the economy. Now, capitalism is back, helping keep the country afloat — and Nicolás Maduro in power. One deal was the cornerstone of that transformation.
To Survive, Venezuela’s Leader Gives Up Decades of Control Over Oil
Faced with a severe economic crisis, the country’s leader, Nicolás Maduro, is letting foreign firms take over daily operations of its oil fields. It’s a break with core tenets of his socialist revolution.