"Trump has aggressively sought to boost oil and gas production within the US. Now, following the capture and arrest of Maduro and his wife, Cilia Flores, he is seeking to orchestrate a ramp-up of drilling in Venezuela, which has the largest known reserves of oil in the world equivalent to some 300bn barrels, according to research firm the Energy Institute."
"The oil companies are going to go in, they are going to spend money, we are going to take back the oil, frankly, we should've taken back a long time ago, the US president said in the wake of Maduro's extraction from Caracas. A lot of money is coming out of the ground, we are going to be reimbursed for everything we spend."
Donald Trump moved to assert control over Venezuela's oil reserves after seizing Nicolas Maduro and his wife, aiming to expand drilling and extract revenue. Venezuela holds about 300 billion barrels of oil, the largest known reserves. The administration is encouraging U.S. oil companies to invest billions to repair broken infrastructure and increase output while pressing to remove laws requiring state ownership of half of oil projects. Leading firms have not committed to such investments. Raising production toward past peaks would be financially demanding and would significantly increase greenhouse gas emissions, undermining global climate efforts.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]