I need some leftist to explain something. Is Venezuelan oil cleaner than American oil? As Biden limits oil drilling and production in this country, he quietly eased restrictions on socialist/communist dictators in Venezuela to get more oil from them. As gas prices hit a new record for a ninth straight day, Biden’s only plan to get prices down is to beg Venezuela for their dirty oil, from a dirty communist dictator.
The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe.
The U.S. will allow European companies still operating in Venezuela to divert more oil to the continent immediately while Chevron will be allowed to negotiate a resumption of operations in the country, according to a person familiar with the matter who spoke on condition of anonymity to detail the plans. The U.S.-backed Venezuelan opposition supports the move, the person said.
The easing of penalties come as tightening global oil supplies send the cost of crude and fuels skyward, threatening to worsen already historic inflation. More barrels from Venezuela would help alleviate the supply crunch while also aiding Europe in weaning itself from Russian energy amid the superpower’s invasion of Ukraine. U.S. benchmark crude fell on the news.
The move is meant to facilitate negotiations between the government of President Nicolas Maduro and the American-backed opposition, according to a second person who spoke on condition of anonymity. But it’s politically contentious, with some lawmakers arguing that the move only bolsters Maduro’s regime.