Stakes change, but an old fight over a chunk of South America flares again

Venezuela's revival of its territorial claim over Essequibo, a Guyanese region rich in natural resources, is driven by the country's economic collapse and political motivations. The claim has escalated tensions between Venezuela and Guyana, as Guyana's rapid economic growth and booming oil industry threaten Venezuela's status as a regional power. Despite its weakened oil industry, Venezuela continues to denounce ExxonMobil's operations in Essequibo and has even attempted to start its own bidding process for oil leases in Guyanese territory. Political analysts in Venezuela believe that president Maduro is using the dispute to rally support.