Published by Yahoo!Finance
China has poured billions into Venezuela’s heavily sanctioned oil industry and reaped the benefits in the form of discounted fuel. Traders have reported crude bound for China selling for as much as $14 a barrel less than the Brent price – a significant discount when the benchmark is currently around $60.
Not only does Trump’s action threaten to cut off that cheap supply, it also offers the US a route to energy supremacy that can help the country rival China on the technology of the future: artificial intelligence (AI).