Doom: The Politics of Catastrophe by Niall Ferguson review
(Evening Standard) – From plagues and volcanic eruptions to the current Covid pandemic, mankind has always been faced with catastrophes.
Thought Leader: Niall Ferguson
Oliver McPherson-Smith: Venezuela Remains Uninvestable for U.S. Energy Firms
Thought Leader: Oliver McPherson-Smith
January 28, 2026
Source: Real Clear Energy
Written by: Oliver McPherson-Smith
In this analysis, Oliver McPherson-Smith examines why Venezuela remains “uninvestable” for major American energy companies despite its vast oil reserves. Decades of nationalization, state dominance through PdVSA, currency distortions, corruption, and heavy fiscal burdens have left U.S. firms wary of reentering the market—even as interim President Delcy Rodríguez signals modest reforms aimed at attracting foreign capital.
Drawing on themes from his book Crude Calculations, McPherson-Smith explains how oil-rich authoritarian states often struggle to balance economic liberalization with political survival. In Venezuela, oil revenues have long underpinned a system of military patronage and politicized welfare programs that reinforce regime control. Meaningful reform would require dismantling entrenched privileges within the military and state bureaucracy—steps that risk destabilizing the government itself.
McPherson-Smith argues that gradual, revenue-supported liberalization offers the most realistic path forward. For U.S. policymakers, the challenge is clear: fostering economic reform in Venezuela requires strategic cooperation that preserves stability while encouraging market-based change.
Dr. Oliver McPherson-Smith offers unparalleled insight into the intersection of energy policy, geopolitics, and innovation—making him an exceptional keynote speaker for forward-thinking conferences. As the founding Executive Director of the White House’s National Energy Dominance Council and a seasoned global journalist, he brings both policy expertise and real-world storytelling to the stage. His experience spans academic research, political leadership, and private-sector strategy in critical minerals, placing him at the center of today’s most urgent energy and innovation challenges. Event planners seeking authoritative, globally-minded voices on energy transformation and AI infrastructure would find him uniquely compelling. Contact us today to learn more.
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