From Commodity to Control: How U.S.–Venezuela Conflict Reshapes Global Energy Politics

Julian Popov, Former Minister of Environment, Bulgaria, and Senior Fellow at Strategic Perspectives says: “The direct declaration that the effective takeover of Venezuela is specifically targeting the world’s largest proven oil reserves is yet another warning sign of how politically explosive and toxic oil interests can be. Reducing dependency on fossil fuels by shifting to clean energy will reduce the dictatorial, corruption and military conflict risks around the world.”

After this incident, the US has become world’s largest oil reserve country and can manipulate world economy by this energy power. Dr Pauline Heinrichs, Lecturer in War Studies (Climate and Energy), King’s College London says, “Aside from the cost to life and livelihoods of yet another US aggression on territory that is not theirs, it is clear once again how volatile and unstable fossil fuels are. Specifically, the EU’s massive reliance on imported oil and gas – 95% of crude oil and 86% of gas – has left it powerless to the geopolitical games of authoritarians and would-be authoritarians from Moscow to Washington.“

Ana Maria Jaller-Makarewicz, Lead Energy Analyst, Europe at the Institute for Energy Economics and Financial Analysis (IEEFA) says: “With the US capturing Venezuelan President Nicolas Maduro and his wife, the oil and gas industry once again could be affected by geopolitical issues. Venezuela holds the world’s largest proven oil reserves and possesses vast natural gas reserves.

Last year, oil and gas prices continued to fluctuate due to geopolitical issues, and this year that trend could continue. If Guyana, Mexico or Trinidad & Tobago production in the Caribbean/Gulf of Mexico were to be impacted by conflict, oil prices would likely rise.”

Elizabeth Bast, Executive Director, Oil Change International, says “The Trump administration justifies hostility toward Venezuela with accusations of drug running and authoritarianism — but this escalation follows a historic playbook: undermine leftist governments, create instability, and clear the path for extractive companies to profit. The most powerful multinational fossil fuel corporations stand to benefit from these aggressions, and U.S. oil and gas companies are poised to exploit the chaos and carve up one of the world’s most oil-rich territories.”