The thing is, as I understand it Venezuelan oil is a net drag on the world, it's expensive, sulphurous, it's uneconomic to exploit right now because with the passing of energy dependency to solar, wind and batteries, we are past peak.
Not that it doesn't exemplify smash-and-grab, but its pointless and the corporates have said so: Yes, two of them were aggrieved they had lost assets in a past forfeiture/siezure by a state actor, and yes, they sought restitution but no, they won't aggressively be going back into exploit this resource. Not without price supports.
Canadian tar sands likewise: this is pointless oil. States declare criticality, when they depend on some aspect of the money flow, not when there is an actual shortage.
OPEC is silly, but seizing oil assets in a time of declining market need is also silly. plastics, fertilizer, explosives and drugs are the future of oil as inputs. Not heat energy.
If we see performative siezure of rare earths, uranium, you-name-it, it will be as pointless as this: There is no shortage of stockpiles, either domestically or in partner economies. It's just about price and profit, not actual strategic concern to existence.
The thing is, as I understand it Venezuelan oil is a net drag on the world, it's expensive, sulphurous, it's uneconomic to exploit right now because with the passing of energy dependency to solar, wind and batteries, we are past peak.
Not that it doesn't exemplify smash-and-grab, but its pointless and the corporates have said so: Yes, two of them were aggrieved they had lost assets in a past forfeiture/siezure by a state actor, and yes, they sought restitution but no, they won't aggressively be going back into exploit this resource. Not without price supports.
Canadian tar sands likewise: this is pointless oil. States declare criticality, when they depend on some aspect of the money flow, not when there is an actual shortage.
OPEC is silly, but seizing oil assets in a time of declining market need is also silly. plastics, fertilizer, explosives and drugs are the future of oil as inputs. Not heat energy.
If we see performative siezure of rare earths, uranium, you-name-it, it will be as pointless as this: There is no shortage of stockpiles, either domestically or in partner economies. It's just about price and profit, not actual strategic concern to existence.