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The Economic Times
The Economic Times
National

What America’s $100 billion Venezuela oil investment could mean for climate change, oil spills and vulnerable communities

The United States is backing a major expansion of Venezuela’s oil industry, with investment of up to $100 billion in new infrastructure and access to more than 65 billion barrels of proven reserves.

Washington has presented the agreement as a way to strengthen American energy security and support Venezuela’s economic recovery. But the plan is also raising questions.

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