These Oil Reserves Could Save Western Countries - VisualPolitik EN
Vložit
- čas přidán 28. 05. 2024
- Check out NordVPN and get 4 months EXTRA on a 2-year plan by going to nordvpn.com/vpen
After the break with Russia following the invasion of Ukraine, Europe needs new sources of energy and natural resources. It stands to reason that in order to obtain new sources, new partners are needed. The question is: who can be trusted in a world that is becoming increasingly unsettled? A Middle East that is red-hot? A Southeast Asia under siege by China? An African continent where wars are breaking out all over the place? These do not seem like the best options. But... What about Latin America? Latin America not only has gigantic oil and gas reserves, as well as many, many other natural resources, but it is also a region where armed clashes are still conspicuous by their absence... And that is precisely why here on VisualPolitik we have asked ourselves a few questions: Could Latin America be a reliable partner for achieving the energy transition proposed by Brussels? Which countries in the Southern Cone could sustain a strategic relationship with the EU? Would Latin America be able to replace Russia itself? In this video we give you all the answers.
Join the VisualPolitik community and support us on Patreon: / visualpolitik
Check out NordVPN and get 4 months EXTRA on a 2-year plan by going to nordvpn.com/vpen
Thank you! Caralho... Thank you! Finalmente...
500 years later Europe still comes back to LATAM for natural resources.
But buying them this time.
LOL
As a Brazilian, don't worry: we never lose the opportunity to lose an opportunity lol. Looking forward to the next World Cup though! (facepalm)
Like a friend of mine said, we have the country we deserve and want to have, otherwise things would be better
Don't worry your country is the fifth largest in the world by area. You will have lots of in the future
@@jigpig4140size is not an advantage, it simply makes infrastructure more expensive. Dense population like Singapor or Switzeröand are much richer.
@@jigpig4140I wish 😢
Resumiu perfeitamente
OPEC+ normally lowers prices drastically whenever these countries start to develop energy projects and then they go bankrupt. That used to happen in North America too until new technology made development cheaper.
That is true, this project would required gurantees in terms of contracts and prices.
@@XxLIVRAxX Argentina just added a pipeline that provides 11,000,000 m3 in natural gas per day. That may allow Argentina to add some oil to the global market.
Exactly. The heavy oil and tar sands in Venezuela is too expensive to extract and refine. EVs are a better solution.
@@speculawyerEurope would have to invest in a whole new refining capability to take on Venezuelan oil. It is so nasty they might as well just burn coal which Germany still has an abundance of now.
Thats good then, OPEC keeping the prices low prevents EU from having to deal with nonsense like 3x expensive LNG gas due to competition.
And you left out the fastest growing economy in the World, Guyana! Over 600 000 b/d early next year and more than 1.5 million b/d by 2027.
He left out a lot of South America because it doesn't fit his pro liberal narrative.
@@CZcams_Tags_Suck Well, everyone has their dreams. More so the Socialist Failures
@@Vick_TangerinoI suspect that if Venezuela does invade they will be incompetent and Europe will support Guyana militarily.
Wow you guys really do quality work, I really enjoy this channel and it's good info! Thanks!
I am colombian, despite recent leftist populism that is blindly turning away from further oil exploration which is in an of itself shortsighted, latam must improve its efficiency and competitiveness. Oil companies suffer from corruption and many jobs that generate little to no aggregate value, this has delayed infrastructure projects and doomed the few that have started. Unless there is a push for becoming competitive i fear the next decade will continue unchanged and much needed infrastructure will not be completed as soon as the EU wishes... i hope i am wrong.
1:13: 🔌 Despite the war in Ukraine and sanctions on Russia, Europe has managed to reach its gas storage target ahead of schedule and is working on diversifying its energy supplies.
4:18: 🔒 Ransomware is a serious threat that can encrypt and steal data, targeting both individuals and the elderly.
8:39: 📊 Latin America's oil production has been disappointing, with only Brazil showing significant growth.
12:09: 🌍 Mexico and Argentina's gas sectors are evolving, while Bolivia faces challenges.
16:02: 🔋 Hydrogen could eventually guarantee Europe energy self-sufficiency and solve the problem of renewable energy intermittency.
Recapped using Tammy AI
thx, it saved me from 20 mn of bs.
LATAM natural glass surplus is solved by Trinidad and Tobago's underutilized LNG processing capacity (4 billion cubic meters per day).
Just need politicians to broker the necessary deals
Guyana seems to be overlooked, in this discussion.
Although tge biggest oil boom in the region
We spoke specifically about Guyana some time ago. This time we wanted to go further. Here is the video from Guyana: czcams.com/video/jWYXM34Pbqs/video.htmlsi=bEo7woo3Yf6nQMsg
Guyana belongs to my country Venezuela,the British stole It from us 😢
@@jesustiradoespinoza4723 It is Essequibo, not guyana.
@@jesustiradoespinoza4723BS who would hand over anything to a bunch of incompetent communists
We've had 50 years warning that alternative to fossil fuel dependencies were a problem.
and it did not materialize so they had to come up with something else
What about the Monroe Doctrine?
What about the Paul Wolfowitz doctrine?
in many place in Brazil we use natural gas also as fuel to vehicles. Tanks of many sizes installed in the car to store the natural gas, i spend almost half the cost of the gasoline for the same distance.
using natural gas to fuel vehicles is uneconomical, you can be sure it's subsidized if it's being used for transportation.
Well don’t look to us here in Australia, we already gave away all our gas to American and British multinationals for SFA! We export the same amount of LNG as Qatar does yet we only get about 1/30th of the revenue they do for it!
You went with "a bird in hand" approach. Shouldn't be complaining.
Please provide a source for your numbers.
@@andrejsurdevics6476 Well I can’t because you can’t post URLs in CZcams comments but I’m sure you can use Google yourself to research it. Just search “Australia vs Qatar LNG revenues”. Plenty of sources there to verify that Australia gets SFA revenue from our gas, it mostly goes offshore to foreign multinationals operating in tax havens.
About that giving away all your oil and gas reserves to US and UK multinationals. The UK off shore Oil and Gas Industry has handed most of the drilling licenses to foreign firms like Taqa, GDF and CNOOC with tax relief of course, because the UK fields are more depleted now and do not return the same huge profits they did before. The UK and US big gun Operators like BP, Shell and Chevron are no longer interested in the UK sector as returns are too small. And here is the thing, just like in Australia with the likes of open cast mining the original big Operators granted the license are contracted by law to return the site back to the way it was before. To wrangle out of this and avoid reducing investor dividend the big Operators will analyse the end of life case scenario of the oil well or mine and sell of the license when the reserves are below a certain yield. The smaller Operator who takes this oil/gas field or mine on will then have to find the money to return the well or mine area to the same condition it was before, and sometimes it does not happen. The tax payer will end up footing the bill for part or most of the decommissioning project, I know this will happen in some cases as it has in the UK. The big guns always have a get out clause, they have the resources to plan ahead and the lawyer teams to get what they want. They even managed to get tax relief on their decommissioning projects which in effect means the UK Government loses out on even more revenue whilst allowing them to profit massively for decades on UK resources. Our governments should grow a set of balls (or become less corrupt) and demand a decommissioning fund is set up right from the time of license issue and this fund stays under law and contract with the site regardless of current Operator to tidy up the mess they leave behind instead of dropping responsibility on a smaller less capable organisation/operator. This does not always happen, but I know it does happen, and I know it has happened in Oz with open mines. They will initially bend over backwards to get a license and tap your fields and promise the Earth to do so, but will renege on any promise when it pleases them. Do what Norway does and ensure they behave properly and treat your environment with respect.
Slick move...
Europe : hydrogen will save us.
Anyone with a brain : "So you have chosen death"
H2 is definitely the way out.
Once the Ukraine war is over, the Dnipro river with its nuclear facility can feed H2 to Europe via existing pipeline infrastructure.
@@DavidHalko there is just a tiny problem. Hydrogen is the smallest atom. Its leak through everything 😅.
Not sure you fathom how much energy is required to power a modern civilization.
ROFL>.... @@DavidHalko
@@w8stral - that was the plan, before the 2014 Russian Invasion… Ukraine was an EU H2 Partner
LOL... suggest reality @@DavidHalko
Great
14:46, dose someone know what song is that?
Hydrogen is one possibility but nuclear is another option that they have been looking at again. Also when you say you can't store wind or solar energy we actually can. We make man-made batteries that operate in a different way to still store that excess energy like pressurizing large containers that we can slowly release the pressure of when we need it in order to power a turbine. Or we could pump water into a man-made lake and then when we need to use the energy we open up the dam allow the water to flow which spins a turbine and powers generators. You could also use them for your standard batteries as well like the Tesla gigawatt factory or whatever it's called.
Natural gas in Brazil is not cost efficient due to the predominance of deep sea oil wells.
Doesn’t hydrogen have a problem with storage? It’s a tiny molecule that tends to escape from storage. What is the solution for this problem?
You're correct. There is no solution and can never be a solution. It's a physics problem. Greenies like fantasy.
Bolivia stole refinaries from Petrobrás, a brazilian company ( they got it by force with the miltary and paid 1/20 of what the refinary was worth). They scared new investments to find more gas reserves in Bolivia because they sux at prospecting.
There is a very important information about latin americas oil industry: our oil is very heavy and of bad quality... it makes it expensive to refine, that is why the oil industry is not increasing the production as it should.
It makes oil imports from the middle east more attractive than producing it nationally, for many purposes.
Refining capacity has no impact on oil production capacity. Fracking potential in South America is limited, other than in Argentina.
The west coast gets most of its oil from abroad due to logistical reasons. The mountains and Jones act make it cheaper to buy Arab oil in the west. The excess of Texan oil is sold to Europe, American energy is getting increasingly cheaper and central to world trade.
Automating factory jobs requires economy of scale in high tech production, maintenance and skilled labour. Cheap electricity helps but it needs to be a national goal in order to gain efficiency of production. The build at home act is the first step towards the reindustrialization of the US. It will take decades but it's inevitable, the US knows how to leverage its economy in order to export goods. Agriculture is the perfect example.
Very helpful analysis. Yes, an energy matrix. There is no single source. As it is, you seem to negative about Latin American sources for example. Norway growth is not mentioned. Mexico’s relationship with US can result in increased US exports to Europe. And Mexico is by no means a black hole. Hydrogen sounds interesting. And increased efficiency by end users will continue.
Finally. Alternative sources will greatly increase over next 10-15 years.
But need flexible short and long term approaches.
Political will and commitment is required. That is the question.
I don't know what planet you're on, but mexican oil and gas production has been on a downward spiral for years.
Please re-program your narration bot so it doesn't say "Ursula von der Leyen" as _"ER-sə-lə VON-der-lay-ən."_
It's _OOR-zə-lə FON-der-line._ (Tip: replace name in script with phonetic spelling.)
H2 is so expensive to transport that its cheaper for most businesses to produce it where and when they need it using the grid/water or from regular gas. Ultimately economics will determine the future energy mix.
Hoping Africa will develop using this
What are the ambassadors saying?
😅
With Milei running Argentina I see him making Argentina rich.
Mark and you are addicted to Hawai shirts, isn´t it? xD
Ursula is brain dead: The operation was successful, but the patient died.
"Armed clashes continue to be conspicuous by their absence" while Venezuelan soldiers assemble on the border of Guyana to 'reclaim the Essequibo region' similar to Russia with Crimea and then Ukraine itself.
This should be the topic of your next video in the region.
A big nothing burguer. The VEN army is a praetorian guard, not a fighting force capable of projecting force.
I think Europe can consider Algeria as a gas supply partner.
Hydrogen is not an energy source;it is a storage medium for energy produced in other ways such as solar and wind. Liquid fuels are far better for the current transportation infrastructure. Natural sourced of CO2 can be combined in various chemical reactors to provide a wide range of liquid fuels, such as propane, dimethylether, methanol,or perhaps mestylene. The Greenness of the fuel is dependent on the source not on the final form. Hydrogen is notoriously hard to work with and special handling that is required is fine for industrial use, but not suitable for general consumer uses.
Canada specifically alberta oil sands continually overlooked in the conversation
Yes yes
how about the oil discoveries of Guiana and Suriname?
will these make a dent in the EU energy market?
nice shirt 😂
The problem is Europe and America’s behaviour like arrogance of feelings superiority upon others societies in terms of diplomacy very unequal when it comes to trade dealings with foreign countries Europeans wanted resources almost for free.
bingo. which is why they should stay away.
South Australia runs their grid almost entirely on solar, wind, large battery megapacks and pumped hydro storage.
How about their cars and trucks
Is Brazil in BRIC
I would keep an eye for a potential political transition in Venezuela, not only does it have vast oil reserves but also untapped offshore natural gas resources.
The profound sociopolitical transformation in Venezuela's public opinion could help realized that potential, with a public opinion a lot more open and enthusiastic about free market reforms and opening the oil market, in fact, the proposal of privitazing the practically bankrupted state oil company PDVSA no longer inspires animosity.
The chavista catastrophy has forced venezuelans to rethink decades old economic/social dogmas.
It remains to be seen how and when this transition takes place.
In the end it will be Russian gas that will save Europe, via pipelines. For doubters, at the end of WWII the US nuked Hiroshima and Nagasaki. One would expect they would remain sworn enemies for decades to go. But in1950 the US ended occupation and made an alliance with Japan. Trade resumed. Europe needs Russia like Russia needs Europe. Actually, from what this war has demonstrated, Europe needs Russia probably more.
Australia already supplies half of Eastern Asia, a bit European Investment and I am sure we could supply a good proportion of the EU's needs.
It is much cheaper in Latin America and of high quality, Australia is very expensive, they will buy the cheapest and safest, not like the Middle East which is very cheap but not very safe.
There is a world commodity market. The price is not cheaper in one place or another. The cost to the customer is the world price plus shipping. So If Europe wants to buy LNG the cheapest transport would be from Algeria, then from the US, Nigeria and then from the Middle East and finally Australia. The product costs the same from all countries (unless on a contract) and the difference is availability and transport cost.@@eltecnico9541
the trick is not to sell off what you will need in the future
@garyshan7239 We have plenty of Uranium for the long term future
@@scottstephens-gm3vm silly fool oil is a feedstock for literally 1000s of goods and you need lubricants. You be better off just building out solar farms then no nuke waste to deal with
There has been a war in Ukraine for over 10 years. It was in Europe's best interest to find a peaceful settlement but no.
Most Russians and Ukrainians alike wanted peaceful relations with the EU, economic free trade and open borders. This has never been the objective of the EU and unfortunately for everyone that chapter has closed.
I'm still an optimist. If the EU and UK accept that isolationist policies have failed and work to build a more productive and cooperative relationship with thier neighbors and the developing world, the future is going to be less grim for everyone.
What would happen if the world simply refused to sell their stuff to Europe
And why would they do that if they get money in return? 🙄
@@SwieczkaNiweaniewierzeDarek unfair trade practices by the Europeans...corruption from the EU...foreign interference in domestic affairs and oh its theirs.......money isn't everything ...ethics matter
Yesh gasoline is kinda weirdly cheap these days wonder why if russia and salams cut production prices go highers.. venezuela myst be foing donwthing weird
Countries like the US, Canada and Norway have increased production, while global demand is going down.
@@thegreatdane3627- global consumption of fossil fuels are at record highs today
Yep, Russia shot itself in the foot with its biggest customer
Europe will figure out a more sustainable fuel source at some point
Regardless of whether it is buying oil/gas elsewhere or find another energy source all together
They learned that the price for depending on Russia for energy is that it will get weaponized against them
Better to pay a higher price and not have to worry about being cut off at the worst possible moment
By the time that you'll all run out of excuses European union will go bankrupt officially. Good luck.
Several Eu countries still use significant Russian fossil fuel, like 7 countries. I bet others will open the pipes in the upcoming years because cheaper energy is better than more expensive one.
@@Arnouxvaze most are just figureheads like olaf, they have no idea whatsoever of how to run a country
Europe is buying Russian oil from India, making India very rich and laughing at Europe. You didn't know?
@@THEROOT1111 Whatever helps you sleep at night, vantik.
What about Guyana?
We spoke specifically about Guyana some time ago. This time we wanted to go further. Here is the video from Guyana: czcams.com/video/jWYXM34Pbqs/video.htmlsi=bEo7woo3Yf6nQMsg
@@VisualPolitikENGuyana is apart of the region and you should have spoke of it in the video. It could have been brief.
Guyana IS part of Venezuela, we are working to take It back ,
Ammonia-based fuel is the most efficient fuel produceable by reneweable energy systems.
Ukraine have enough untapped Oil and gas reversers to cover EU needs.
I think they have other thinks to do for a while...
Yeah, off Crimea.. kinda the real reason Putler wanted it
LOL
@@Vandelbergerand the Donbas
In theory a nuclear power station could be built with the sole purpose of producing the electricity needed to produce hydrogen with a life span of around 50 years would make this a very affordable unlimited energy source but initial investment would be huge.
Nuclear isn't very popular but is an obvious solution.
Yes, Moltex energies flex reactor benefits from the engineering advantages of liquid nuclear fuel to offer 750°C process heat at a cost of £8 per megawatt hour. The first of a kind reactor is due to begin operating around 2030.
@@Mivoat I would like to know more about that, have you got a good link
The world's largest reserve of oil is in the Permian Basin in Texas! The US just surpassed Saudi Arabia in oil production!
you fail to mention that Russian gas was 3 to 4 times cheaper
Think renewables, develop sustainability. Albeit very belatedly.
Sure, if you want to crater civilization. There is this thing called MATH. Suggest you try it.
btw Canada has lots!!!
fracking requires you to have shale deposits near where the cities are located AND/OR pipleline infrastructure connecting the 2 both cost billions in infrastructure basically only the US and thus parts of Mexico and Canada is able to do the shale boom-now oil production outside of shale can be fracked for more oil extraction. Now those gas pressurazation facilities take many years to build and cost billions
We have so much oil in USA and Canada. We don’t need any ones oil . You guys just think you can get it super cheap and not pay honest wages for it .
Why use oil if solar and wind now are more cheaper?
because if climate will be a little fixed all solar panels are inactive and useless
The US produces in excess of its needs so the only thing world oilprices affects is Big Oil's profits-if Peter Zeihan's predictions hold true the US will keep leaning to isolationist and the US oil prices will decouple from the global ones-not sure Big Oil will let that happen but sure sounds nice-according to him the cost to produce US shale oil is getting lower and will continue to do so and is even propeling a build out in US manufacting due to the cheap cost of gas to run the plants
The west coast gets most of it's oil abroad due to logistical reasons. The mountains and Jones act make it cheaper to buy Arab oil in the west. The excess of Texan oil is sold to Europe.
Automating factory jobs requires economy of scale in high tech production, maintenance and skilled labour. Cheap electricity helps but it needs to be a national goal in order to gain the efficiency of production. The build at home act is the first step towards the reindustrialization of the US. It will take decades but it's inevitable, the US knows how to leverage its economy in order to export goods. Agriculture is the perfect example.
*point at overseas territory*
'These resources could save us!"
lol
where is grant? been a while since he last hosted a vid
What happened to Grant Gallagher. ?
Europe needs to build out battery storage - take a look at what Australia is doing.
Wuahalahara?
I would stick to oil for now.
Big big OG by Putin. Were raking it in. Good stable customer and then a brain fart
Who needs oil and gas when you have renewable energy?
Currently not possible
Hydrogen is one possibility but it seems that Europe has foolishly painted itself into a corner by ignoring advanced mini or modular nuclear fission reactors, and it's a self-inflicted limitation. Then there's the high hopes for AI-assisted nuclear fusion achieved by the USA's National Ignition Facility in Lawrence Livermore National Laboratory last Dec-2022. These two nuclear power strategies may, however, divert a limited budget that's not enough to cover all bets or options available. Choose wisely.
Guyana oil reserves are in play, what about that?
Norway
Norway can't replace the huge amounts of cheap Russian gas.
Missed nuclear derived hydrogen. Japan is working on it right now.
No comment on US sanctions? Even though the US reduced some of the sanctions on Venezuela a month ago, what are the effects of the remaining sanctions. What will happen if the US sees competition to its own oil exports? The EU is dependent on the US banking system, and no EU bank can survive without access to the SWIFT banking system😢
SWIFT is co-owned by the US and EU. The headquarter is in Belgium.
no, no comments on US sanctions, after idiots destroyed [in a single generation] the most wealthy nation in the southern hemisphere.
The US had nothing to do with the throat slitting done by the Venezuelan generational theft of greedy politicians & greedy citizenry.
@@thegreatdane3627If you had even iota of knowledge about the Western system you would have known that West is basically the US regime. Rest are it's poodle colonies.
This video seems to neglect the effect upon the German industrial complex. Without easy cheap access to natural gas they are suffering quite badly.
don't worry, Norway is taking over as Germany's main supplier. They have supplied half of Germany's gas in 2023, and it will only grow as Norway has approved 19 new oil and gas fields.
Not really. Only some elements of the chemicals sector. German GDP is less dependent on fossil fuel prices than most others - including the far less industrialized US.
German industrial complex is on it's way to degradation and for the good. Hopefully all of German manufacturing moves to China or USA. They would have served their US masters well.
No, those resources will be needed in South America.
I take issue with the way you introduce the war 'dozens of tanks, soldiers and armored vehicles' is downplaying it a lot. It was a large scale invasion kicking of a brutal war of aggression.
Nah....this is dumb. Venezuela has a HUGE amount of oil but it is largely tar sands and heavy oil that are very hard to extract and refine. It's a much better idea to transition to EVs that can be powered with clean, domestic, and DIRT CHEAP solar PV and wind.
Hydrogen as energy security is ridiculous, but we do need massive amounts of hydrogen for industrial processes to replace polluting industries (steel, fertilizer etc). Using hydrogen plants as energy dumps when we build massive renewable energy systems, but where we can just cut off the hydrogen production during peak demand or low supply, would make a lot of sense.
Ah, if only you had a miracle energy source then you could sing Kum-Ba-Ah in your little fantasy land filled with H2...
Check out the Moltex flex reactor, which will be offering 750°C processed heat for £8 per megawatt hour around 2030. It benefits from the engineering advantages of liquid nuclear fuel.
In your statement you may as well have said £0.02 per megawatt hour for as much reality it has. Yes, I am a massive nuclear proponent and it should have been done decades ago... we should all be using liquid nuclear reactors decades ago. @@Mivoat
If Petro could stop ruining the Colombian economy ... That would be great :(
🇻🇪: First time?
_US and the MIC of Israel have been eyeing on it for a long time_
We should just stop using oil.
How much pressure on the biodiversity on the amazon region for Extraktion of fossil fuel? How much heat can the latin america region take? It looks like the amazon is becoming a desert region. OMG 😢
Brazil is against Western countries telling it to preserve the Amazon. Also these reserves are in the Atlantic Ocean.
The oil is in the ocean. But the burning of the Amazon occurs mainly for agricultural and livestock purposes. Agricultural and livestock products are mainly sold to China and they are trying to reach an agreement with the European Union.
What are the reasons central and latin countries are so bad at getting to crude?
This video was too long and offered a hodge podge of subjects, few of them related to the title of the video!
Better to increase wind, solar and batteries.
Spain, Greece and those in the south can do this fast.
With EV's, why do the Canary Islands need oil? Just stupid extra costs.
In the fast transition they can use gas, and oil.
“wind, solar, and batteries”
Solar only works in the day, batteries can’t store enough power & must constantly be replaced…
Wind turbines stop spinning with excess power generation, so it can handle SOME peak needs, at the expense of being off half time.
Natural gas or H2 peaker plants are needed for renewables. Renewables = Natural Gas / Hydrogen need.
@@DavidHalko real world data is saying something else...
The article states: "These Oil Reserves Could Save Western Countries - VisualPolitik EN" Of the 19 minutes of video reporting, not 1 minute was said about Oil saving the Western Countries. He spoke about Russian gas, Latin America pitiful production of gas, and Europe's hydrogen. What a flake. Latin American countries are not increasing and producing more oil, although in the past they produced a lot more, because they kicked out the USA Oil Companies and failed attempts to do the job themselves, contract Brazilian, Iranian, Russian, Chinese, etc, oil companies who have failed to do better. Exxon explored the unexplored deep sea region off Guyana and discovered the largest oil reserve and later another one. These fools were looking at what they could put their hands on. No company in the world knows more about the Oil business than the American corporations. If you want to explore, extract, produce, refine, market oil, call the American Corporations.
Canada exports 40% of the US oil imports to them.
So we should be good without it .
People really burn my butt.
The lack of infrastructure didn't curb our getting dependent on oil and gas vs horses and coal.
We'll build or repurpose the existing infrastructure for hydrogen being produced locally vs piping oil and gas inter continentally or shipping it.
Guyana produces oil bro but i guess you only referring to latin parts of South America
Oil makes the world go round. For now.
Hydrogen has its greatest future as chemical feedstock
The oil is going to US Chevron refineries.
America is going to win big time through American companies part owning and operating many of the Latin American oil and gas companies increasing production. Just look at Guyana.
The effect won’t be big. Fuel is already America‘s biggest export and Europe still gets most of its gas and oil from other sources and with electrification, the demand will fall. And it will first hit LNG. There are also new pipeline options from Central Asia to Europe. That would be much cheaper than LNG.
Nope. They are being kicked out of those countries. That's the major reason why such brutal sanctions are placed on them like Venezuela. Only the ones who are hellbent on selling their countries and their resources in pennies to US imperialists are doing so like the latest one in Argentina who is going to sell Argentina to US regime.
Remember the Hindenburg!
Those that said there no prophet of God in Umuezumezu ( Hebre Family ) shall cover themselves in shame. I spoke that God will weaken OPEC to save Biafra, see it for God, and have answered my prayer. Today, South America has oil and gas now than the Middle East. From the current prophet of Umuezumezu
In the Dominican Republic petroleum and even gas comes to the surface in some places, but the country is not taking advantage of it.
Guyana is already an extension of USA and they are loaded with oil
Nothing is cheap if going further and further for supplier 😂😂😂
Good luck for EU
Good thing we arent poor then