The world is watching. While Petronas faced losses in Venezuela, the United States is stepping in, claiming to “save the day.” But what’s really going on in Venezuela right now? Let’s break it down.
In today’s world, the powerful often dictate the rules, and smaller nations get pushed around. The US has a history of this: Libya, Iraq, and now Venezuela. While some internet commentators casually ask, “When will the US intervene in Malaysia?” the reality is more complex than social media hot takes.
Here’s what’s really happening:
Venezuela holds the largest proven oil reserves in the world, even more than Russia and Saudi Arabia. Yet political instability and corruption have made it nearly impossible for companies—including US giants like Chevron or even Petronas—to operate efficiently.
The US claims intervention is about fighting drugs and criminal networks, but some analysts suggest the real reason is controlling oil supply—especially from countries that don’t trade in US dollars. Venezuela’s oil deals increasingly involve currencies like yuan, rubles, or other BRICS currencies, bypassing the US dollar system. This challenges the US’s “petrodollar supremacy.”
Meanwhile, China is quietly expanding its influence, investing in ports and infrastructure across South America, creating an alternative trade ecosystem that excludes the US.
The lesson here? Geopolitics directly impacts economies worldwide, including Malaysia. As a trading nation, events in Venezuela, the US, and China affect global supply chains, oil prices, and even currency stability.
Closer to home, Malaysia faces its own challenges: debates over tax relief, the cost of living, and managing economic growth. While Petronas has become a respected global brand, other nations’ state oil companies, like Indonesia’s Pertamina, still struggle with corruption and inefficiency.
The big takeaway: in a world where superpowers can reshape markets and resources, strategic planning, strong governance, and global awareness are critical for any country—big or small.
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