Venezuelans vote to claim sovereignty over a part of oil-rich nation Guyana
President of the Bolivarian Republic of Venezuela, Nicolás Maduro, gestures as he speaks after the National Electoral Council published the results of the consultative referendum on Venezuelan sovereignty over the Essequibo, in Caracas, on December 3, 2023. Venezuelan electoral authorities on December 3 claimed that 95 percent of voters in a nonbinding referendum approved of the nation’s territorial claim on a huge chunk of neighboring oil-rich Guyana.
It is “an evident and overwhelming victory for the ‘Yes’ in this consultative referendum,” said the president of the National Electoral Council, Elvis Amoroso. (Photo by Pedro Rances Mattey / AFP) (Photo by PEDRO RANCES MATTEY/AFP via Getty Images)
Pedro Rances Mattey | Afp | Getty Images
Venezuelans on Sunday voted to claim sovereignty over a large swathe of their oil-rich neighbor Guyana, marking the latest escalation in a long-standing territorial dispute between the countries.
Voters were asked if they supported the establishment of a new state in the contested area, known as the Essequibo. Venezuela’s National Electoral Council counted more than 10.5 million votes, the country’s local media stated. The number of voters were not specified, however, and the Associated Press reported that few voters could be seen at polling sites throughout the voting period.
The 61,600 square-mile Essequibo region makes up two-thirds of Guyana, and holds enormous oil reserves off its coast.
Friction between both countries has flared since 2015 following oil exploration operations by companies like ExxonMobil. Venezuela believes that Guyana has no right to grant oil concessions in the maritime areas off the disputed territory. Venezuelan President Nicolas Maduro’s government is also facing international pressure to facilitate free and fair elections in 2024.
The dispute over Essequibo is more than a century old. In 1899, an international arbitral tribunal awarded the territory to Britain, when Guyana was still under its colonial rule. Venezuela has since actively disputed this. Maduro in November accused Guyana, the U.S. and oil firms of robbing Venezuela of its territory through “legal colonialism.”
Guyana has maintained that the accord is legal and binding, and in 2018 had sought the International Court of Justice to rule it as such.
Other questions in the referendum included whether or not to grant citizenship to current and future residents in the region, as well as whether there should be a rejection of the ICJ’s jurisdiction over the territorial dispute between both countries. It remains unclear how Maduro’s government will enforce the results.
Markets haven’t really reacted to the planned referendum yet as there has been no physical supply disruption. This also seems unlikely for now.
Henning Gloystein
Eurasia Group Director
“I want to assure Guyanese there is nothing to fear over the next number of hours, days, months ahead,” Guyanese President Irfaan Ali said in a televised statement aired on local media.
“Of course, our vigilance will be enhanced, but we are working around the clock to ensure that our borders remain intact and the people in our country remain safe,” he added.
On Friday, the ICJ ordered Venezuela to refrain from making any move that would change Guyana’s control over Essequibo.
Oil prices year to date
“Venezuela shall refrain from taking any action which would modify the situation that currently prevails in the territory in dispute, whereby the Co-operative Republic of Guyana administers and exercises control over that area,” the ICJ’s statement said.
Both Venezuela and Guyana are critical oil hotspots. Venezuela is the 10th largest producer in OPEC. And the Stabroek Block in Guyanese waters is estimated to hold about 11 billion barrels of oil.
Market impact
U.S. West Texas Intermediate futures traded 0.4% lower at $73.76 a barrel Monday at roughly 7 a.m. ET time, while global benchmark Brent futures stood 0.4% lower at $78.56 per barrel.
“Markets haven’t really reacted to the planned referendum yet as there has been no physical supply disruption. This also seems unlikely for now,” Eurasia Group’s Director Henning Gloystein told CNBC via email.
However, Venezuela’s actions are unlikely to help it improve relations with the U.S., which it needs to improve its own oil production, he added.
The U.S. imposed oil export sanctions against Venezuela in 2019 to punish Maduro’s government following 2018’s elections which Washington considered a sham.
Dan Yergin, vice chairman of S&P Global, told CNBC’s “Street Signs Asia” that the “absurd referendum” is one risk that current crude markets have yet to price in.
Yergin expects that the U.S. government will defend Guyana if Venezuela attacked the country — “it would be like [Russian President Vladimir] Putin going into Ukraine.”
The US solar industry just raised the alarm over the GOP’s “One, Big, Beautiful Bill,” warning it could kneecap America’s energy future and trigger a massive power shortage in its current form.
The Solar Energy Industries Association (SEIA) is warning that legislation recently passed by the House Ways and Means Committee could shut down or prevent nearly 300 solar and battery storage factories from opening. If this bill becomes law without changes, the US could lose enough solar generation by 2030 to power the state of Pennsylvania for a year. That’s 145,000 gigawatt-hours of clean electricity that could vanish.
The SEIA analysis paints a grim picture: Nearly 300,000 US jobs are at risk, including 86,000 in solar manufacturing alone. And here’s the twist, as I’ve pointed out before – about 80% of the jobs and factories at risk are in red states that voted for Trump.
“There is still time to improve this bill, which, as written, represents a crisis for America’s ability to build the energy infrastructure we need to meet surging demand,” said SEIA president and CEO Abigail Ross Hopper.
The SEIA says the legislation would slam the brakes on solar and storage investments just as energy demand is soaring, thanks partly to the explosion in AI and data centers. SEIA estimates the bill could wipe out $220 billion in potential investments by 2030.
The House bill also repeals the Section 25D residential solar tax credit, which has been a critical driver of solar adoption for middle-class families. Without it, installing solar gets way more expensive – and out of reach for many households.
As Electrek reported last week, solar and wind accounted for almost 98% of new US electrical generating capacity added in Q1 2025, according to new Federal Energy Regulatory Commission (FERC) data.
Solar and wind also made up an impressive 100% of new capacity in March, and March was the 19th consecutive month in which solar was the largest source of new capacity.
The US needs to add 206.5 gigawatts of new energy capacity by 2030. Solar is expected to deliver nearly three-quarters of that. If the bill guts solar incentives, we’re looking at higher electricity bills and slower economic growth. SEIA says the rollback could drive up consumer energy costs by $51 billion.
Hopper didn’t mince words: “Passing this bill would create a catastrophic energy shortfall, cede AI and tech leadership to China, and damage some of the most vital sectors of the US economy.”
She added that the Senate can still step in with a smarter proposal that aligns with Trump’s push for US energy dominance.
SEIA’s message to lawmakers? Fix the bill or energy production will plummet, blackouts will become more frequent, and the US will face a devastating – and completely avoidable – energy shortage.
Read more: The House draft budget kills the 30% residential solar tax credit
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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![Lucid Gravity flexes its power at the Nürburgring alongside other upcoming EVs [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/05/Lucid-Gravity-Nurburgring.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Lucid’s Gravity is a three-row electric SUV, but it’s faster than most sports cars. Boasting up to 828 hp, the luxury SUV can accelerate from 0 to 60 mph in less than 3.5 seconds. The Lucid Gravity was spotted ripping around the Nürburgring track in Germany, showing off its power and agility. Check it out in the videos below.
Lucid Gravity hits the Nürburgring for testing
As it ramps up production of its first electric SUV, Lucid is preparing for another big year of growth. Last week, Lucid’s interim CEO, Marc Winterhoff, told Bloomberg that the company would enter new parts of Europe and the Middle East this year.
Two Lucid Gravity test vehicles with European test plates were recently spotted testing at the Nürburgring, hinting that an official launch could be coming soon.
In a video from StateSideSuperCars posted last week, you can catch a glimpse of the Gravity (skip to 9:45) showing off its agility, handling, and control as it rips around the race track.
Another video, courtesy of EMS Sport TV, shows the Gravity test vehicle alongside several other current and upcoming EV models, including BMW’s Neue Klasse SUV, Mercedes CLA EV, and what appears to be the Kia EV4 sedan.
During the Gravity’s “Celestial Arrival” in March, Winterhoff said Gravity deliveries would resume by the end of April. Lucid delivered the first models in December 2024, but those were for family, friends, and employees.
The Lucid Gravity Grand Touring is available to order in the US. Prices start at $94,900 with up to 450 miles of range. Later this year, Lucid will launch the Gravity Touring model, starting at $79,900.
On Lucid’s website, the Gravity SUV is still unavailable to order in Germany, Switzerland, the Netherlands, or Norway.
The Lucid Gravity Grand Touring and Touring models are available in Saudi Arabia, starting at SAR 487,715 ($130,000) and SAR 416,645 ($111,000), respectively.
Another luxury electric SUV was recently spotted at the Nürburgring. The “ultra-luxe” Genesis GV90 was caught with less camo, giving us our best look at the upcoming flagship SUV.
Source: Lucidowners.com
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Waffle House is about to become a go-to DC fast charging spot for EV drivers, thanks to a new partnership with bp pulse.
The EV charging arm of British oil giant bp just announced a “strategic relationship” with the American diner chain to bring DC fast charging to a network of Waffle House locations across the South and Southeast, including Texas, Georgia, and Florida.
Each site will get six DC fast charging bays with 400kW chargers featuring both CCS and NACS connectors. The first stations are expected to go live in 2026.
Now, if you’ve ever been on a road trip through the South, you already know Waffle House is always open. Like, always. The lights are on 24/7, even during hurricanes and major storms. There’s actually something called the “Waffle House Index” used by FEMA and emergency responders to gauge how bad a storm is. If the Waffle House is closed? It’s serious.
That makes these locations a pretty smart choice for DC fast chargers. In an evacuation scenario or on a road trip, it’s a reliable place to stop, fast charge your car, and grab a plate of smothered and covered hash browns.
“Adding an iconic landmark like Waffle House to our growing portfolio of EV charging sites is such an exciting opportunity,” said Sujay Sharma, CEO of bp pulse Americas. “We’re building a robust network of ultrafast chargers across the country.”
A bp pulse spokesperson told Electrek that the “first batch of 50 sites is already in the works.” And with Waffle House locations situated along major highways and well-traveled routes, this move could make a big difference in EV charging accessibility, especially in areas that need an EV infrastructure boost.
Read more: Rivian R1T gets dragged 100 feet after Hurricane Helene and still runs [Video]
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
FTC: We use income earning auto affiliate links. More.
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