There is a country on the world map, where petrol is cheaper than water, but people are forced to collect food from garbage. Where hunger, unemployment and a future shrouded in darkness is the everyday reality of the people. Now a superpower like America has targeted drones and rockets at the same Venezuela. The alleged American attack and blackout on the capital Caracas has once again drawn the world’s attention to the question, what is it in this poor and deteriorating country that America is after?
Tension between America and Venezuela is not new. President Donald Trump is calling it an action against narco terrorism i.e. drug smuggling. America alleges that the Venezuelan government is protecting drug cartels. Whereas Venezuelan President Nicolas Maduro directly calls it a conspiracy of America. Maduro says that the real reason is not drugs, but his country and the immense treasure hidden beneath its land.
What treasure does Venezuela have?
Actually, Venezuela has the world’s largest oil reserves. According to Worldometer data, Venezuela has oil reserves of about 303 billion barrels, which is more than Saudi Arabia. About 90% of the country’s economy is dependent on oil earnings. Apart from this, there is also abundance of valuable resources like natural gas, gold, bauxite and coal. This is the treasure America is eyeing.
America’s eyes
America considers itself an energy superpower, but despite its oil reserves, it has to import heavy and sour crude oil. Venezuelan oil is very suitable for American refineries and it is also geographically very close to America. This is why America has been trying to weaken Venezuela’s government for a long time by imposing economic sanctions.
Expert opinion
Experts believe that if a US-backed government comes to power in Venezuela, its oil reserves could be opened up to American companies. This will not only increase America’s dominance over the global oil market, but will also strengthen its hold on Russia and other oil producing countries.
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