From the New York Times:
The hemisphere’s oil boom is all the more remarkable given that two of its traditional energy powerhouses, Venezuela and Mexico, have largely been left out, held in check by entrenched resource nationalism. Venezuela is now considered to have bigger oil reserves than Saudi Arabia, putting it at the top of OPEC’s rankings. If it opened up more to foreign investment, it could tip the scales further in the hemisphere’s direction.
Gee, I thought we were going to have to drill, baby, drill and run Canadian pipelines through the heartland and frack Pennsylvania and New York till flames shot out of everybody’s faucets and poison the Gulf of Mexico to keep our Hummers on the road. (Whatever happened to all those Hummers, anyway?)
Now it turns out that we didn’t really need to waste three trillion dollars to fail to seize the oilfields of Iraq. We could have just acted like adults in 1999 instead of throwing childish tantrums over the election of Hugo Chavez, Venezuela’s version of Joe Stalin and Mao Tse-Tung combined. (I take it that “entrenched resource nationalism” is double talk for kicking out foreign oil companies, an old commie trick.)