Taking Venezuela’s Oil Isn’t the Win Trump Claims
His muddled arguments don’t account for these four big political and economic realities.
IF YOU WERE HOPING the hands-on U.S. involvement in Venezuela’s politics and economy might end quickly, think again: The United States will sell Venezuelan oil “indefinitely,” President Trump’s energy secretary declared Wednesday, and the funds from these sales will be “deposited into accounts controlled by the U.S. government.” Maybe even “offshore accounts.” Meanwhile, following this “Oil Deal,” Venezuela will supposedly “be purchasing ONLY American Made Products,” Trump wrote this afternoon. Exactly what all this means, whether it is constitutional, and whether the interim Venezuelan government or U.S. oil companies are on board all remain to be determined.
But one thing is already clear: It’s unlikely to be a good deal for U.S. taxpayers or U.S. companies.
Trump, keep in mind, invaded Venezuela because he only believes in war for profit, and for years has been saying U.S. military strategy should be guided by the opportunity to make money by seizing other countries’ natural resources.
But Trump is also notoriously a moron who does zero homework.1
There are four main reasons why Trump’s decision to invade Venezuela for its oil is unlikely to result in the big payday he expects. Let’s go through them one by one.