Venezuelan oil is a key resource amid the transition of power
Former US Army Captain Doug Truax and former US Navy Captain Brent Sadler join ‘Pak Gazette Live’ to discuss the attack on Venezuela and the capture of Nicolás Maduro, breaking down details of the attack on Maduro’s compound and more.
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Women’s tennis legend Martina Navratilova took to social media on Saturday to share her thoughts on the US intervention in Venezuela, supporting the idea of criminal sanctions on US companies that try to pump oil out of the country.
Navratilova praised a post on
Navratilova later shared more thoughts on the operation that resulted in the capture of Venezuelan President Nicolás Maduro, and President Donald Trump said the United States will “lead” Venezuela until the transition of power is complete.
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“Holding a country hostage while plundering its natural resources. Next stop: Greenland or Nigeria,” Navratilova wrote in response to a thread that included a report on officials from Wall Street firms in the finance, energy and defense sectors who visited Venezuela after the recent attacks.
About twice the size of California, Venezuela has the The largest proven oil reserves in the world.. At an estimated 300 billion barrels, about 20% of the global total and nearly four times the U.S. reserves, that endowment dwarfs that of any other nation.
Venezuela’s reserves, now larger than those of energy titans like Saudi Arabia, have become a focal point in the geopolitical struggle over the country’s future.
‘WE BUILD VENEZUELA’S OIL INDUSTRY:’ TRUMP PROMISES US ENERGY RETURN AFTER MADURO’S CAPTURE
Venezuela’s reserves are dominated by heavy and extra-heavy crude oil that requires specialized equipment, constant maintenance and advanced refining capacity, much of which has deteriorated after years of underinvestment and losses of skilled labor.
During his speech on Saturday, Trump accused Venezuela’s socialist government of seizing American energy assets and dismantling an industry built with American investment.
“Venezuela unilaterally seized and sold American oil, assets and platforms, costing us billions of dollars,” Trump said. “They took all our property.”
“We built Venezuela’s oil industry with American talent, drive and skill, and the socialist regime stole it from us,” he added.
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Trump added that the U.S. energy The companies would play a key role in rebuilding the Latin American country’s oil sector.
“We’re going to get our big American oil companies to come in, spend billions of dollars, fix the badly damaged oil infrastructure and start making money for the country,” he said.
