The United States' recent actions against Venezuela mark a new stage in its competition with China over the extraction of resources in South America, with the outcome potentially determining the future direction of the region's vast mineral wealth. The actions, framed as targeting a corrupt dictatorship, have broader implications for the control and utilization of South America's resources.

Venezuela's oil reserves are a primary, but not exclusive, target. The country holds significant deposits of rare earth minerals and other resources crucial for the 21st-century energy transition. The conflict raises questions about whether these resources will be used to fuel a shift towards renewable energy or to bolster military power in defense of traditional fossil fuel interests.

The situation is unfolding against a backdrop of existing challenges in Venezuela. Fixing Venezuela's oil industry infrastructure would take many years and cost tens of billions of dollars.

The US actions have sparked international debate, with some viewing them as necessary to address corruption and promote democracy, while others criticize them as an interventionist move driven by economic interests. The situation highlights the complex interplay of geopolitics, economics, and resource control in South America.

The coming weeks and months will be crucial in determining the long-term consequences of the US actions and their impact on the region's development.