Post by @Nonilex@masto.ai

There are numerous hurdles, including strong opposition in #Venezuela to ceding #control of #NaturalResources to the #US. Revisions to the Venezuelan #constitution may be required before any such deal is finalized, & the prospects of that happening are uncertain amid US antipathy.

#Trump #geopolitics #sovereignty #economy #TaxpayersMoney #affordability #CostOfLiving #law #InternationalLaw #energy #FossilFuels #ClimateChange

#taxpayersmoney #naturalresources #costofliving #control #affordability #internationallaw #venezuela #sovereignty #geopolitics #constitution #fossilfuels #energy #climatechange #economy #us #trump #law

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Nonilex

@Nonilex@masto.ai 7 hr. ago

“An illegitimate interim [Venezuelan] government with an illegitimate hydrocarbons law has no legitimacy to strike this unconstitutional deal,” Ricardo Hausmann, a Harvard economist who served as #Venezuela’s minister of planning in the early 1990s, said in a post on X. “It will be a fiasco for all involved, starting with @SecRubio.”

#Trump #geopolitics #sovereignty #economy #TaxpayersMoney #affordability #CostOfLiving #law #InternationalLaw #energy #FossilFuels #ClimateChange

Nonilex

@Nonilex@masto.ai 7 hr. ago

… #Trump & #Venezuela’s interim president, #DelcyRodríguez, spoke by telephone this week, one of the few times the 2 have spoken directly.
Trump made Rodríguez “interim” president while pledging that her country eventually will return to democratic, elected governance. “From a legal standpoint in Venezuela, Delcy has no standing,” said a Venezuelan with long participation in the #oil industry who spoke on the condition of anonymity….

#geopolitics #sovereignty #economy #TaxpayersMoney #law

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Nonilex

@Nonilex@masto.ai 7 hr. ago

The person said this will leave banks & others institutions typically involved in #financing #drilling operations asking, “Why are we signing deals with people who have zero legitimacy?”
Those with knowledge of the talks said it is unclear how much #TaxpayersMoney #Trump would seek to put into #oil production versus backing private investment from #US firms to develop the fields.

#geopolitics #Venezuela #sovereignty #economy #law #InternationalLaw #energy #FossilFuels #ClimateChange

Nonilex

@Nonilex@masto.ai 7 hr. ago

The talks appear to be focused on an existing joint venture legal structure in #Venezuela through which the #US would be granted access to develop the #oil fields, but Venezuela would still be guaranteed a cut of revenue it produces.

…US government expenditures of the size needed to purchase long-term leases & develop oil fields would probably need congressional approval just as #Trump’s #GOP allies risk losing control over #Congress in the upcoming #midterms.

#sovereignty #economy #law

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