Francisco Monaldi

Francisco Monaldi, Director of the Latin American Energy Program at Rice University, delves into the escalating tensions between the U.S. and Venezuela centering on oil. He explains the significance of the recent U.S. seizure of a Venezuelan tanker and how it signals potential blockade strategies. Monaldi discusses the historical relationship between the U.S. and Venezuelan oil, highlighting production issues caused by mismanagement. He also frames U.S. sanctions as part of a broader strategy to pressure Maduro’s regime while minimizing American costs.

Francisco Monaldi, Director of the Latin American Energy Program at Rice University, delves into the complexities of reviving Venezuela’s oil industry, a plan that could cost over $100 billion. He highlights the daunting challenges, from years of neglect to the need for an investment of about $10 billion annually. Monaldi discusses the implications for U.S. energy security, the role of China and Russia, and the necessary conditions for companies to invest. He emphasizes that success hinges on Venezuela's political transition and its potential effect on global oil markets.

Phil Gunson, a Senior Analyst for the Andes region at the International Crisis Group, Francisco Monaldi, a Latin American energy expert, and Cindy Arnson, a political economy specialist, dive into the tumultuous aftermath of the Trump administration's intervention in Venezuela. They explore the political implications of Maduro's removal, the fractured Venezuelan economy, and the role of Delcy Rodríguez as interim leader. The guests also discuss Cuba's dependency on Venezuelan oil, the complexities of U.S. engagement, and the obstacles to achieving a stable governance transition.