Venezuelan oil, a key resource in the transition of power
Former U.S. Army Captain Doug Truax and former U.S. Navy Captain Brent Sadler join “PK Press Club Live” to discuss the strike on Venezuela and the capture of Nicolas Maduro, revealing details of the raid on Maduro’s compound and much more.
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Women’s tennis legend Martina Navratilova shared her thoughts on the U.S. intervention in Venezuela on Saturday on social media, supporting the idea of criminal sanctions against U.S. companies trying to extract oil from the country.
Navratilova praised an article on
Navratilova then shared her thoughts on the operation that resulted in the capture of Venezuelan President Nicolás Maduro, with President Donald Trump saying the United States will “run” Venezuela until the transition of power is complete.
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“Taking a country hostage while plundering its natural resources. Next stop: either Greenland or Nigeria,” Navratilova wrote in response to a thread that included a report on Wall Street executives from the finance, energy and defense sectors visiting Venezuela after the recent strikes.
About twice the size of California, Venezuela holds the the largest proven oil reserves in the world. At around 300 billion barrels, or about 20% of the world’s total and nearly four times America’s reserves, this endowment dwarfs that of any other country.
Venezuela’s stocks, now larger than those of energy titans like Saudi Arabia, have become a focal point of the geopolitical struggle surrounding the country’s future.
“WE BUILT VENEZUELA’S OIL INDUSTRY:” TRUMP PROMISES US ENERGY RETURN AFTER MADURO CAPTURE
Venezuela’s reserves are dominated by heavy and extra-heavy crude 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 Saturday, Trump accused Venezuela’s socialist government of seizing U.S. energy assets and dismantling an industry built with U.S. investment.
“Venezuela unilaterally seized and sold American oil, American assets and American platforms, costing us billions and billions of dollars,” Trump said. “They took all our belongings.”
“We built Venezuela’s oil industry with American talent, drive and skills, and the socialist regime stole them from us,” he added.
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Trump added that the United States energy the companies would play a key role in rebuilding the Latin American country’s oil sector.
“We’re going to let our very large American oil companies step in, spend billions of dollars, repair the badly damaged oil infrastructure and start making money for the country,” he said.
