Big Oil Wonders Why Venezuela Isn't Trusting Its Tormentors
The story laments Venezuela's 'uninvestable' status for Big Oil, posing the question of how it can 'win back Big Oil’s trust.' It notably sidesteps the robust US intervention history that made trust a significant issue to begin with. From the 2002 coup attempt against Hugo Chávez, quietly supported by the Bush administration, to the crippling sanctions imposed by successive US presidencies
(notably Obama's 2015 executive order declaring Venezuela an 'unusual and extraordinary threat' and Trump's 2019 tightening, which effectively blocked Venezuela's oil sales), the ‘collapse’ isn't an act of God. It's a direct policy outcome. One might suggest the country's oil assets were 'seized' not just by the Venezuelan government, but effectively by Western sanctions, transforming a sovereign
nation into an international pariah by design. It's truly a mystery why a country pushed to the brink by external forces might be wary of inviting those same forces back in. Perhaps Venezuela is simply not keen on another round of 'trusting' partners who prioritize profit over national sovereignty, especially when that trust usually comes with a side of regime change.