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Like the endless contests of conservatives and liberals in the novels of Gabriel Garcia Marquez, Latin American petroleum is a tale of political struggle. It is the field for nationalisation and privatisation, sovereignty and colonialism, foreign multinationals and state oil monopolies, to fight it out. Now the US claim on Venezuelan oil reserves is a deliberate red cape to a bull. The plan was announced on Friday by US President Donald Trump, who wrote, “secured majority US control of more than 65 billion barrels of proven oil reserves in Venezuela, at no cost to the American taxpayer”. He suggested this…
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