A Proposal That Could Rejuvenate Venezuela's Ailing Oil And Gas Industry

The recent summit between the European Union (EU) and the Community of Latin American and Caribbean States (CELAC) in Brussels represented a timely opportunity for Europe to build new alliances on the world stage. One important but under-reported development from the CELAC nations that merits European support resides in the CRESCII proposal, which would enable Caribbean nations to become co-owners of Venezuela's proven and drilled petroleum and gas fields. This would represent a paradigm shift in the relationship between Caribbean nations and Venezuela.…