ExxonMobil intends to explore oil in a region claimed by both Guyana and Venezuela, potentially heightening tensions.
The territorial dispute over the Essequibo region has intensified, with Venezuela's President Maduro suggesting forceful annexation.
South American leaders and the international community are concerned about the impact of Exxon's actions on regional stability.
Key quote:
“The truth is that this announcement couldn’t come at a worse time. This is going to be a massive test for regional diplomacy."
— Geoff Ramsey, senior fellow at the Atlantic Council.
Why this matters:
This development underscores the complex interplay between natural resource exploitation and international relations, highlighting the need for careful diplomatic navigation in resource-rich, contested areas.
Washington state’s new cap-and-invest system is raising hundreds of millions of dollars for climate action while pricing emissions at a much steeper cost than California, the only other state with this kind of system.
