Letter from South America: Sanction threat fails to curb Caracas
Washington has put oil and gas sanctions back in place while Venezuela prepares for elections. But exemptions remain as the Biden administration looks to domestic gasoline prices ahead of the US’ own elections later this year
For the first time in a long time, Venezuela has a unified opposition and President Nicholas Maduro has genuine cause to worry that a free and fair election could unseat him. Maria Corina Machado, the candidate elected in the opposition primaries, was barred from running by a Chavista court. But she has thrown her weight behind a former diplomat, Edmundo Gonzalez, and it seems as though the electorate is also rallying behind him. The election is still several weeks off and there is no telling what skulduggery may be employed between then and now to strengthen the Chavistas’ position. But one thing remains painfully evident: Venezuelans of all stripes desire change. For President Joe Biden, t

Also in this section
24 February 2025
Weighed down by higher costs and lower margins, the US downstream sector is facing closures that could shrink capacity
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers