The Trump administration’s capture of socialist Venezuelan dictator Nicolás Maduro has thrown the region into uncertainty while presenting opportunities that could give the U.S. a geopolitical and economic advantage.
Once a global energy powerhouse, Venezuela’s oil sector now produces a fraction of what it did before former dictator Hugo Chávez nationalized the industry. If President Donald Trump’s gambit proves successful, the U.S. could revitalize the Venezuelan oil industry and leverage its resources to refill America’s depleted Strategic Petroleum Reserve, several energy policy experts and economists explained to the Daily Caller News Foundation.
Former President Joe Biden authorized a massive drawdown and sale of SPR oil in 2022, ahead of the midterm elections and record-high gas prices that bogged down his fellow Democrats. After releasing about
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