Desperate Maduro Strikes Energy Deal with Trinidad & Tobago as Venezuelan Support Dwindles

In what is widely viewed as a shady tactic by President Nicolás Maduro to bolster his position ahead of a contentious election, Venezuela signed significant energy agreements with Trinidad and Tobago on Wednesday. This move is seen as another step in Venezuelan aggression against Guyana, following Maduro’s alleged unlawful attempts to annex the disputed territory of Essequibo. Critics argue that this strategy aims to distract from these aggressive actions and manipulate the upcoming presidential election.

The agreements, finalized during a meeting at the Miraflores Palace, focus on exploring and exploiting non-associated gaseous hydrocarbons from the Cocuina field on the Deltana platform. Key Venezuelan officials and Trinidad and Tobago's Minister of Energy and Energy Industries, Stuart Richard Young, were in attendance.

Maduro emphasized the importance of this agreement, stating, "We continue to take monumental steps to consolidate a relationship of good neighbourliness and brotherhood." He touted the agreements as a triumph over external intrigues and animosities, promoting diplomacy of peace and development.

Among the agreements signed were:

- Authorization for the fiscal admission of production from the Cocuina Field on the Deltana platform.

- Agreements on the execution period of the Manakin-Cocuina Field Unit Area.

- Approval minutes concerning the functional and governance structure for the Manakin-Cocuina Field Unit Area operation.

- License for exploring and exploiting non-associated gaseous hydrocarbons in the Cocuina Field on the Deltana platform.

Political Context: A Shadow Over Elections

These agreements come as Venezuela prepares for its presidential elections, with Maduro seeking a third term amidst a surge in opposition support. In Los Guayos, supporters like Elsa Rojas campaign for Maduro, despite dwindling enthusiasm and polls indicating that opposition candidate Edmundo Gonzalez Urrutia is leading with over 59% support compared to Maduro's 26.7%.

Nicholas Maduro

Critics argue that Maduro's administration employs undemocratic tactics to retain power. His re-election in 2018 was marred by allegations of fraud and record-low voter turnout. Maduro has faced significant criticism for economic mismanagement, with the economy shrinking by almost 80% between 2014 and 2021, and an estimated 7.7 million people fleeing the country due to humanitarian crises.

Economic Incentives and Repression

Maduro has attempted to counteract his declining popularity by providing economic incentives through programs like the Local Committees for Supply and Production (CLAP) and sporadic financial bonuses. These efforts are viewed by many as insufficient and a ploy to secure votes.

Supporters like 90-year-old retired university professor Luis Bermudez Romero praise Maduro's efforts, despite severe economic conditions, defending the president's approach amidst accusations of US interference and sanctions. Maduro's strategy also includes a heavy reliance on social media and direct engagement with voters through platforms like TikTok and Instagram Live.

The opposition faces repression, with dozens of its members detained and facilities hosting Gonzalez shut down. Maduro's government is accused of undemocratic practices, with many fearing that the incumbent will not respect an opposition victory.

Venezuelan people worried about the Venezuelan National Election July 28, 2024

Conclusion: A Critical Juncture

As Venezuela stands at a critical juncture, the recent energy agreements with Trinidad and Tobago offer a glimpse of economic hope. However, they cannot overshadow the pressing concerns of an undemocratic and repressive political climate. With the election drawing near, the world watches closely, questioning whether Maduro’s administration will allow a fair and transparent electoral process or continue its undemocratic and malicious tactics to maintain power.