Is the plan for Venezuela to keep the oil in the ground after annexation or provide an “unlimited financial guarantee” as well as “sufficient liability insurance” in the event of a spill?
Are you implying that Exxon controlling the oil is good because they provide financial guarantees and insurance?
Edit: I read the article and Exxon doesn’t provide those either, so you’re asking if Venezuela will be a better proprietor. Given that their oil industry is nationalized, probably yes.
Maybe there’s an argument that the Exxon deal was so bad that annexation was the only way to avert it, but as far as I can tell, the Venezuelan government is doing on a nationalist basis. Hopefully, it amounts to a better situation for the denizens of Essequibo.
“the production sharing agreement the Guyanese government signed with the Exxon Mobil consortium was so egregious that a former presidential adviser cautioned that the country was being “recolonised” — and without having to pay any of the externalities”
Is the plan for Venezuela to keep the oil in the ground after annexation or provide an “unlimited financial guarantee” as well as “sufficient liability insurance” in the event of a spill?
Are you implying that Exxon controlling the oil is good because they provide financial guarantees and insurance?
Edit: I read the article and Exxon doesn’t provide those either, so you’re asking if Venezuela will be a better proprietor. Given that their oil industry is nationalized, probably yes.
Maybe there’s an argument that the Exxon deal was so bad that annexation was the only way to avert it, but as far as I can tell, the Venezuelan government is doing on a nationalist basis. Hopefully, it amounts to a better situation for the denizens of Essequibo.
“the production sharing agreement the Guyanese government signed with the Exxon Mobil consortium was so egregious that a former presidential adviser cautioned that the country was being “recolonised” — and without having to pay any of the externalities”
https://www.nakedcapitalism.com/2023/12/the-drums-of-war-are-growing-louder-in-south-america.html
Regardless of that, Esequibo is Venezuela’s, it is their legitimate land, they can do whatever the fuck they want with the oil
Hmmm maybe.