Why don’t we just buy the oil I don’t get it
The Venezuelan govt then uses PDVSA profits to invest and diversify the economy
and…
I do wonder how many of those countries expropriated assets of the US companies that were exploiting those countries’ oil deposits.
I’m not a fan of our Glorious Leader’s saber-rattling, I think that the risk of expropriation is just a political risk associated with international investing, and I think that characterizing Venezuelan oil as “our oil” because of that expropriation has a problem of flawed logic… but I can see where a reasonable person might point out that there is an element of “theft” on the Venezuelan side.
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Really, I don’t think that the USA even wants the oil, Trump just wants to keep it from being sold somewhere else.
US refineries do want the oil, they retooled to process it decades ago and it’s not worth retoolkng again….
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At current oil prices, this is broadly correct.
The Oil majors are not interested as it would take an awful lot of money up-front to get things going.
So its a blockade but with the option to get the oil if prices go up over the next few years.
And it is the same type of heavy oil that the Canadian tar sands export to the US. No wonder Alberta wants a pipeline to the Pacific so badly.
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Apparently we have now bombed a dock area without Congressional approval.
Gives a whole new meaning to the song down on the boom docks.
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Canada be like ‘Uh-Oh’.
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I worry about envy of our water more than of our oil.
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That fight is coming over the next 20Y and its going to get very ugly.
Water may be “on the table” in Canada’s upcoming renegotiation of its trade deal with the US. Realistically we could not prevent the US from invading Canada if they became desperate for our water so it may be wise to address that earlier rather than later.
I hate the thought of water resources being squandered foolishly so would hope both our countries would use our water wisely.
Unsettling that China is increasing its military presence around Taiwan at the same time as the US is with Venezuela. Add in Russia’s war on Ukraine and the three military superpowers are in lockstep in asserting their dominance in their respective regions.
The big dogs are marking their territory.
Yup. And the big dogs seem to respect each other’s territory.
What water resources are being debated? Stuff nearer the Pacific coast? There is a practically endless amount of water where all the people live right along the border.
US access to Canadian water comes up every time we have trade talks. Canada has refused to include it so far. The US has coveted Canada’s natural resources for 250 years.
Although it is fiction, a read of Louise Penny’s Black Wolf puts the water issue in perspective.
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I thought that book was written by Louise Penny??