alt Hacker NewsThey want to have their cake and eat it too. Here, the Venezuelan government invited western oil companies to develop its oil fields. Then they broke the deal and stole the infrastructure the western countries had built.
That’s very different from actual colonization, where countries showed up and expropriated resources the natives were already developing.
Replies
xg15 • 01/03/2026
So strange that only the US has the expertise to do prospection and build oil rigs and no one else...
➕ show 1 reply
Oil companies were apparently compensated, but also allegedly not enough. Companies were awarded further compensation in international arbitration, but Venezuela has avoided fully paying up.
If that's all accurate there are numbers out there for what they owe, and it shouldn't be whatever the POTUS decides.