US Sanctions Blocked, Then 'Wildcatters' Race for Venezuelan Oil
The Financial Times breathlessly reports on 'wildcatters' eagerly pursuing Venezuelan oil contracts, portraying them as nimble entrepreneurs outpacing cautious 'western majors.' This narrative conveniently omits the decade-long US-led sanction regime that crippled Venezuela's oil industry and economy, under the guise of promoting democracy. (Turns out, 'democracy' is less important when gas prices
are high.) These sanctions, not market forces, are precisely what made Venezuela's vast reserves suddenly accessible to smaller, less politically constrained players. One might wonder if the US policy goal was ever truly about democracy, or simply about making a resource-rich nation vulnerable, creating a buyer's market for the very 'western majors' who are now 'warily' re-entering the scene. It's
almost as if 'regime change' and 'humanitarian crisis' are just elaborate foreplay for resource extraction.