Could Violence in Venezuela Impact U.S. Energy Prices? (+VIDEO)
Could Violence in Venezuela Impact U.S. Energy Prices? (+VIDEO)
The petroleum the U.S. gets from Venezuela is “bought at market rates that probably won’t stop”, observes COA’s Eric Farnsworth as violence erupts in the South American country.
Daily protests against Venezuela’s President Nicolas Maduro could impact energy prices for Americans at home, according to a leading foreign policy expert....
“These demonstrations are deep-seated. They are born of a real frustration of an economy unable to produce and supply basic goods,” Farnsworth said. “Everything from common staples to more sophisticated services, like healthcare – and that’s been going on longer for a lot longer than just the past year....”
Currently the U.S. and Venezuela have a weak diplomatic relationship -- but when it comes to energy, both nations continue to depend on one another for the sale and export of oil.
“We [U.S.] still get a lot of our petroleum from Venezuela, it’s bought at market rates that probably won’t stop,” Farnsworth said.
Farnsworth says Washington still has a vested interest in keeping contact with Venezuela’s leadership....
