Oil

Earlier this year the U.S. all but cut off oil imports from Venezuela to put more pressure on the country’s authoritarian regime. Now another major importer looks like it’s turning its back on Venezuela.

On Friday, President Trump will meet with leaders from five Caribbean island nations at his Mar-a-Lago resort here in Florida. A big question is: what will Trump do for them in return for what they’ve recently done for him?

On Thursday Venezuelan President Nicolás Maduro will be sworn in after his unconstitutional re-election. Much of the world considers his socialist regime a dictatorship – and a disastrous one: Venezuela is suffering the worst economic collapse in the world right now.

But is it also a dangerous one? Lately the U.S. and much of Latin America are calling Venezuela an erratic security threat. It's escalating tensions with its neighbors – and last month welcomed Russian bomber planes into the country.

To understand what's going on with Venezuela, WLRN’s Tim Padgett spoke with Bruce Bagley, a University of Miami international studies professor and an expert on South American security issues.

Last week Venezuelan President Nicolás Maduro said his country had found “the perfect kryptonite to defeat Superman!” By Superman he meant the U.S. And by kryptonite he meant cryptocurrency – el petro.

Floridians have until March 9 to comment on President Donald Trump's draft proposal program that would allow for offshore drilling and seismic testing off the state's coasts.

Activists will be protesting and gathering comments to submit to the administration in Miami Beach on Sunday at CoastFest, an educational event hosted by Oceana, a non-profit organization that focuses on protecting the world's oceans.

Elected officials, business leaders and scientists will join to speak on the impacts of offshore drilling and seismic testing.

Miami commissioners voted unanimously Thursday to oppose drilling for gas and oil off Florida's coasts.

The vote follows confirmation by the U.S. Department of the Interior that Florida is among states where drilling could be expanded, despite a statement to the contrary by Interior  Secretary Ryan Zinke.

Oil is Venezuela’s only real economic asset, accounting for more than 95 percent of its export revenues. But its oil industry has been wrecked by neglect and corruption. The government is now purging that industry’s leadership. But it’s probably too late.

They say oil is as much a curse to Venezuela as it is a blessing. The South American country has the world’s largest oil reserves. But its oil wealth has long been looted by corrupt ruling elites. Or, in this century, by a corrupt socialist revolution.