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Venezuela’s oil industry has flailed under government control – Mexico and Brazil have had more success with nationalizing

  • Written by Skip York, Nonresident Fellow in Energy and Global Oil, Baker Institute for Public Policy, Rice University
Venezuela’s oil industry has flailed under government control – Mexico and Brazil have had more success with nationalizingThe Venezuelan state-run oil company is contending with aging infrastructure.Michael Robinson Chavez/The Washington Post via Getty Images

U.S. President Donald Trump has ignited a contentious debate over who has the right to control Venezuela’s vast oil reserves.

Speaking on Jan. 3, 2026, after the U.S. military seized Venezuelan President...

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