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Trump now has his very own oil empire
Getting access to Venezuela’s reserves gives the US economic and geopolitical leverage, even if it takes years to step up production.
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A statue of a hand holding a drilling rig near the headquarters of PDVSA, Venezuela's state oil company, in Caracas.
PHOTO: ADRIANA LOUREIRO FERNANDEZ/NYTIMES
Javier Blas
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Let’s do the maths. Start with the oil production of the US and add Canada. Then include Venezuela and the rest of Latin America, from Mexico to Argentina and everywhere else in between: Brazil, Guyana, Colombia. Like it or not, all of them are living under the “Donroe Doctrine”
Then it’s a choice of language to describe what the US administration will do with all those barrels. It may try to exert direct control as in Venezuela, or oversee, influence and simply enjoy the benefits of what’s produced. Whatever the word, President Donald Trump now has his very own oil empire.
