Venezuela’s Vast Oil Wealth Could Become The World’s Largest Stranded Asset
Venezuela’s petroleum output has collapsed due to political strife, sanctions, and corruption. Donald Trump’s 2019 sanctions cut Caracas off from global markets, nearly bankrupting the country. Continuing challenges could lead to Venezuela’s vast oil reserves becoming the world’s largest stranded asset. President Joe Biden’s decision to authorize U.S. supermajor Chevron…
bubmagJanuary 17, 2023