The US government has stated that the Venezuelan president was kidnapped based on allegations of illegal drug activity. Rather than present a strategy to establish a new government, the US has instantly pivoted to the pursuit of Venezuelan oil. The Venezuelan people seem hopeful that a democratic government will be established. However, there's a blatant disconnect between kidnapping a president, restoring democracy, and neocolonial opportunism.
This oil goal is in response to established Chinese investments in South American infrastructure, resource development, and trade routes. The US government wants to interfere with established trade relationships between China and South America; to become the middle man between Venezuela assets/ land/ oil and China. The US wants a cut of the profits (per the
National Security Strategy).
Assuming that the US establishes the authority to extract oil in Venezuela, and that US government or corporations choose to invest in oil extraction, who will guarantee that the next government will honour those agreements? US government decisions shift each time the government changes from Republican to Democrat, with each political party undoing decisions by the previous government. The goal posts move every four years. Shouldn't it be expected that future Venezuelan governments might be equally fickle - especially when neocolonialism is at the core of the US interest in Venezuelan oil?
"One of the US's stated motives for capturing Maduro was to protect Americans from drugs. But US President Trump also said that the US wants to focus on Venezuela's oil industry.
The reason for this is a combination of economic control and profitability, as well as geopolitical strategy. This strategy involves curbing Chinese influence. "China has a presence in Venezuela, but it's also the most dominant buyer of Venezuelan oil. America wants to restore that sphere of influence. They don't want rivals like China, but also Russia, to expand their economic and political influence in South America."
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Exports are low because they have been severely neglected in recent years, partly due to a boycott by the United States," says Van Geuns.
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Due to the neglect of infrastructure and oilfield management, Venezuela currently controls less than 1 percent of the world's oil production. Most of that currently goes to China. Nevertheless, a US "takeover" of Venezuela's oil production won't be easy.
"Firstly, there's hardly any knowledge or expertise left in Venezuela ... we're talking about enormous investments, between 50 and 70 billion euros. That could mean huge contracts for American companies. But because there are already companies operating in Venezuela, those contracts must first be terminated."
Next, new contracts must be drawn up for American oil companies, such as ExxonMobil. "That means they naturally need long-term guarantees for these investments. These are all aspects that still need to be considered. Because who will provide those guarantees? Will it be the Venezuelan government, or the Trump administration itself? That's still entirely up in the air."
In dit blog lees je over de ontwikkelingen over de aanval van de VS op Venezuela en de gevangenname van de Venezolaanse president Maduro.
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