Retrieved
The latest events demonstrate that Washington needs to take a different approach to deal with Venezuela, particularly when it is considered that growing Russian and Iranian influence has the potential to destabilize Latin America. A decision needs to be made soon because time is running out for Venezuela’s vast petroleum reserves. PDVSA’s rapidly corroding energy infrastructure, declining global demand for sour heavy crude oil, and the emergence of peak oil demand are causing the value of those crude oil reserves to deteriorate and could eventually see them become a stranded asset.. By Matthew Smith. Full Text -> BayStreet
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