The dispute over the Essequibo region – which is larger than North Korea and inhabited mostly by indigenous communities – stretches back more than 150 years (see our explainer here for more). But Venezuela’s strongman President Nicolas Maduro has ramped up tensions recently.
In part, he’s eyeing massive oil deposits that have been discovered there. But he may also be stoking nationalist feelings ahead of what will be a highly controversial – and not necessarily “free” – presidential election next year. Even prominent opposition figures have long supported Caracas’ claims on the territory (shades of the way that many dissidents in Putin’s Russia supported the annexation of Crimea.)
That means the referendum will almost certainly result in a resounding ¡Sí! But then what?
Rattling Essequibo could flare into a wider conflict. US forces regularly do joint patrols with the Guyanese military to protect local oil fields that US firms are developing. Pentagon officials reportedly visited the capital, Georgetown, this week to reassure the Guyanese, and Brazil put its local forces on high alert.
The risks are immense. But by asking the Venezuelan people to weigh in like this, Maduro may be uncorking nationalist passions that he will struggle to control.
With the US leading production and China driving new reactor development, Bank of America breaks down the who, what, where, when, and why behind nuclear’s return. Stay ahead of global energy trends with Bank of America Institute.
Chris, an Army veteran, started his Walmart journey over 25 years ago as an hourly associate. Today, he manages a Distribution Center and serves as a mentor, helping others navigate their own paths to success. At Walmart, associates have the opportunity to take advantage of the pathways, perks, and pay that come with the job — with or without a college degree. In fact, more than 75% of Walmart management started as hourly associates. Learn more about how over 130,000 associates were promoted into roles of greater responsibility and higher pay in FY25.
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