U.S. Seeks Venezuelan Oil, Ignores Its Own History
The Financial Times piece highlights US Energy Secretary Chris Wright's enthusiasm for a 'flood of investment' in Venezuela's oil sector. This comes with a notable caveat: Washington will not provide security or financial guarantees, despite executives' concerns. This framing suggests a hesitant, almost reluctant engagement, necessitated by external factors. CASE A: US current stance on
Venezuela's oil. The FT paraphrases Secretary Wright stating, 'The market is open for US companies to invest in Venezuela.' The subtext is that this is a pragmatic, if not ideal, economic opportunity. Stripping away the framing, what we're left with is a blatant double standard. The US government is now encouraging investment in the very industry it spent years actively trying to dismantle through
crippling sanctions and overt attempts at regime change. CASE B: US historical stance on Venezuela's oil. For years, US policy was anchored in isolating the Maduro government and preventing its access to oil revenues. In January 2019, the Trump administration imposed sanctions on Venezuela's state-owned oil company, PDVSA, effectively blocking the Maduro government from exporting crude to the
United States and limiting its ability to process imports. Then-National Security Advisor John Bolton explicitly stated the goal was to 'cut off their source of income.' This was reinforced by backing opposition leader Juan Guaidó as the 'interim president,' a move that tacitly endorsed the seizure of Venezuelan assets abroad, including those of PDVSA. The framing discrepancy is stark. In 2019,