Crude Power: The U.S. Pivot to Oil and the Future Energy Mix

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The year 2026 kicked off with a massive shake-up in U.S. foreign and energy policy. Through bold action, the Trump administration is signaling its conviction that global power lies in controlling physical energy reserves, such as those in Venezuela, rather than adhering to international climate treaties. By planning to invest billions into fixing Venezuela’s oil infrastructure, the U.S. aims to flood the market with cheap crude oil and push prices down to $50 a barrel. This strategy is designed to weaken foreign oil monopolies in the Western Hemisphere, starve rival world powers of export revenues, and collapse the energy lifelines that have sustained ideologically aligned neighbors of Venezuela. What will be the strategic impact of this situation on countries like China, Russia, Iran, and Cuba? What are the costs and benefits for private oil companies investing in a market defined by a history of expropriation? How will cheap crude impact the global energy transition and the growing power demands of the AI revolution?

Join us for a discussion on the vision for the U.S. energy strategy and how that fits into the future global energy mix, featuring Dr. Caroyln Kissane, Associate Dean of the graduate programs in Global Affairs and Global Security, Conflict, and Cybercrime at New York University’s Center for Global Affairs, Robert McNally, Founder and President of Rapidan Energy Group and White House energy advisor to President George W. Bush and Dr. Francisco Monaldi, Director of the Latin America Energy Program at Rice University’s Baker Institute.

Music by Aleksey Chistilin from Pixabay.