Venezuela, Oil, and US Energy Dominance: Implications for German Policy

President Trump has made it clear that the capture of Nicolás Maduro was about oil. This intervention appears to be a win for US power and economic primacy. It reaffirmed the energy dominance of the United States by checking China’s and Russia’s oil aspirations in its “backyard.” But, amid global decarbonization, Venezuelan oil may be a liability. This gives Germany the opportunity to work to hedge energy security against the new normal – an administration in Washington bent on unilateral action, also in energy.