alt Hacker NewsThe US has no use for Venezuelan oil. The US is sitting on a vast reserve of relatively good quality oil and is pumping as much as the global markets can handle. Venezuela is sitting on massive reserves of low quality, difficult to process oil.
The US goal is deprive China of access to Venezuelan oil. China is ~80% of all Venezuelan oil exports (legal or illegal). Venezuela represents a very large potential supply of oil for China, for the next 30-50 years (a time after which oil probably won't matter very much to China).
Note that the US also did not take Iraq's oil. China & India mostly have got that output. The US spent trillions of dollars, used its super power military to fully invade and occupy Iraq, and then did not take its oil. Read that again if anybody still feels brainwashed from the false campaign that endlessly proclaimed the US invasion of Iraq was to Steal The Oil.
Iraq was about the great power conflict with Russia across the Middle East (see: Syria, Libya, etc).
Venezuela is about the great power conflict with China and controlling what the US considers its backyard.
Replies
> The US has no use for Venezuelan oil.
Actually it's just the exact opposite. The US might be the biggest oil producer, but it still imports 60% of its oil that it uses from Canada. Why is that? Apparently because US infrastructure was built for heavy oil, not the light version the US produces.
Well, well, well ... It just so happens that Venezuela sits on the worlds largest repository of heavy oil.
“The US has no use for Venezuelan oil.”
> Trump also said he believes that American companies will be “heavily involved” in rebuilding Venezuela’s oil infrastructure.
https://www.bbc.com/news/live/c5yqygxe41pt
Considering this was one of his first statements on what happened, I think it’s a clear signal for what his priorities are.
We are straight back to the Reagan years of toppling regimes for our own resource interests. There is no way we did this out of the kindness of our hearts or because we believe in open, free elections. We have clear material interests and he’s not even trying to hide it.
Couldn’t have happened to a nicer guy (/s obviously) but let’s not pretend this was some sort of magnanimous gesture or that it shouldn’t be deeply concerning to their neighbors that the US has no problem attacking a sovereign nation’s capital city and making off with a country’s leader + family when we’re not even at war.
Again I am not losing sleep for Maduro specifically but the way this was handled is not something that should be simply glossed over because of who he was and how he came to power, and we should definitely not pretend “the US has no use for Venezuelan oil.”
the president just announced that they are directing US companies to take control of Venezuelan oil.
Before the invasion, influence and control was iraqi state owned. Afterwards, it was controlled by the US government up to ~2011. Then the western oil companies had influence. So sure they didn’t use it but they can dictate where it goes.
> Venezuela is about the great power conflict with China and controlling what the US considers its backyard.
Sure, can you extend that idea to China v Taiwan?
"Taiwan is about the great power conflict with US and controlling what the China considers its backyard."
The US may have no use for Venezuelan oil, but Venezuela nationalized US investments in 1976, stealing Exxon and Gulf Oil's assets then paying them back a pittance.
Venezuela owes those companies several billion in 1976 dollars, money they have not repaid. The US will now likely use their oil as collateral to force them to pay. No I am not dumb enough to think they will stop only there or do this in a justifiable way, but I would assert, when someone steals something from you, you have the right to use force to get it back, even if the method just used is not the right one.
Then why isn't Trump saying this in his speech. Instead he's talking about Venezuela emptying it's prisons into the US and making cities he sent the NG to crime ridden because the Democratic leaders failed or some such rationalization.
> The US has no use for Venezuelan oil
Someone should tell Trump that because he’s not been remotely subtle about his thought process.
> Note that the US also did not take Iraq's oil
That doesn’t mean there was no desire to take that oil. And there very transparently was. Looking at the end result and working backwards is faulty thinking. The US disastrously mismanaged Iraq. They certainly didn’t intend to.
> The US has no use for Venezuelan oil. The US is sitting on a vast reserve of relatively good quality oil and is pumping as much as the global markets can handle.
First, our oil tends to be better for making gasoline but worse did asphalt or diesel, so there is a market for Venezuelan oil replacing Alberta’s.
Second, this is what the man himself has been talking about. He spent weeks going on about the nationalization in the 70s–and note how much of his worldview is stuck half a century ago when he was young—and in the first interview today he said this: “We’re going to have our very large US oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country and we are ready to stage a second and much larger attack if we need to do so. So we were prepared to do a second wave.”
There are reasonable arguments about how much this is really worth but one thing we’ve learned is that he doesn’t do subterfuge or misdirection well. If he’s talking about making the world safe for Exxon, I’d bet that he believes it.