Trump, China and 300 billion barrels of Venezuelan oil
As the US powers ahead with its plans to recover Latin America’s ‘oil El Dorado’, we explore Venezuela’s environmental and geopolitical outlook
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The Center on Global Energy Policy hosted a discussion on The Transition to a Low-Carbon Future: Can it be Financed? Bill Janeway, Senior Advisor, Warburg Pincus, discussed how investment in innovative technologies—, the financial return on which is highly uncertain—can, play an important role in the transition to a low-carbon economy. What can we learn from past technological revolutions, when state programs and financial speculation combined to mobilize capital at enormous scale? Will past patterns of investment at the frontier be relevant to the challenge of addressing climate change? Following Mr. Janeway’s remarks, there was a panel conversation on this topic moderated by CGEP Inaugural Fellow David Sandalow, featuring Sarah Davidson, Associate, NY Green Bank, Bill Janeway, and Dr. Kristina Johnson, Co-Founder, Chairman and Chief Executive Officer, Enduring Hydro.
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Early on January 3, 2026, the United States apprehended Venezuelan President Nicolás Maduro and his wife and removed Maduro from power. Maduro was transported to New York, where he now faces federal charges of narco-terrorism and drug trafficking.
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Venezuela holds 70% of Latin America's natural gas reserves, which it could export to Colombia and Trinidad to increase revenues.
Models can predict catastrophic or modest damages from climate change, but not which of these futures is coming.
The US intervention in Venezuela may jeopardize both the flow of discounted Venezuelan oil to China's teapot refineries and the role of Chinese oil companies in Venezuela’s upstream business.
In discussing the dramatic seizure of Venezuelan President Nicolás Maduro and his wife, Cilia Flores, over the weekend, President Donald Trump declared that the United States would now “take back” the country’s oil. Yet he has offered little clarity on what exactly this means.