Is Venezuela's New Petroleum Law Good For Venezuela?
February 3, 2026
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1:11:24Now PlayingIs Venezuela's New Petroleum Law Good For Venezuela?
YouTube Description
as posted by the channelIn late January, less than one month after the Trump regime kidnapped Venezuelan President Nicolás Maduro, interim President Delcy Rodriguez signed into law a major reform of Venezuela's massive petroleum industry.
Among other things, the new law ends the monopoly of Venezuela's stated-owned oil company, PDVSA, and paves the way for U.S. and other foreign oil companies to invest in and profit from Venezuela's proven oil reserves, which are the largest in the world.
Dimitri Lascaris has travelled to Caracas to learn more about this new law. For this purpose, he has interviewed two experts in the Venezuelan oil industry, one who praises the new law and one who criticizes it forcefully.
In this report, Lascaris speaks with Alejandro Terán, a Venezuelan-American who owns a small operation in the oilfields of Texas. Terán divides his time between Venezuela and the United States.
In the interview, Terán explains why he applauds the new law and the government of Delcy Rodriguez. He speaks highly of former Venezuelan President Hugo Chavez. Lascaris and Terán also discuss the U.S. petro-dollar, the allegation that President Maduro was involved in the drug trade, and Venezuela's relations with Russia and China.
Following his discussion with Terán, Lascaris interviewed Carlos Mendoza Potellá, an economics professor at Venezuela's Central University. Mendoza is a former advisor to Venezuela's Central Bank and Venezuela's former ambassador to the Soviet Union and Saudi Arabia. Mendoza is highly critical of the new petroleum law. His interview will be published by Reason2Resist in the days ahead.
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