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Energy markets are political – Venezuela is the latest proof (www.scmp.com)

submitted 1 month ago by rss@news.abolish.capital to c/china@news.abolish.capital

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The United States’ forcible removal of Venezuelan president Nicolas Maduro from power has reignited a debate over international law and sovereignty. But this risks obscuring a more consequential fact: global energy markets are not governed primarily by liberal market logic, but are shaped by geopolitical strategy. Venezuela matters less as a case in itself than as a signal of how energy is being repositioned amid intensifying US-China economic competition. For decades, many assumed that energy...

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