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Venezuelan opposition party Voluntad Popular's presidential candidate, Edmundo Gonzalez
Opinion
Venezuela Politics
Schreiner Parker
31 May 2024
Follow @PetroleumEcon
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Letter from South America: Sanction threat fails to curb Caracas

Washington has put oil and gas sanctions back in place while Venezuela prepares for elections. But exemptions remain as the Biden administration looks to domestic gasoline prices ahead of the US’ own elections later this year

For the first time in a long time, Venezuela has a unified opposition and President Nicholas Maduro has genuine cause to worry that a free and fair election could unseat him. Maria Corina Machado, the candidate elected in the opposition primaries, was barred from running by a Chavista court. But she has thrown her weight behind a former diplomat, Edmundo Gonzalez, and it seems as though the electorate is also rallying behind him. The election is still several weeks off and there is no telling what skulduggery may be employed between then and now to strengthen the Chavistas’ position. But one thing remains painfully evident: Venezuelans of all stripes desire change. For President Joe Biden, t

Also in this section
Canada’s Asian pivot faces hurdles
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
New Zealand is back open for business
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
New Zealand’s gas horror story will haunt for years to come
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
OPEC presses pause
9 December 2025
The group’s oil production declined in November, our latest analysis finds, amid divided sentiment over market balances and geopolitical jitters

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