Excerpts from an Article on NakedCapitalism
Donald, you just wrote the most honest colonial confession of the 21st century. When you say Venezuela must “return” its oil, land, and assets to the United States, you are not talking about law. You are talking about ownership. You are saying, out loud, what empire has always believed in private: What lies under Venezuelan soil belongs to Washington.
The money quote: “you know the old days, when you had a war, it was ‘to the victor the spoils.’”
Venezuela has the largest proven reserves of heavy crude in the world, with an estimated 303 billion barrels, as well as the largest reserves of light crude oil in the Western Hemisphere. But it’s not just that Venezuela is home to the largest oil reserves on the planet, it’s that those reserves are sitting “right next door” to the US, as Trump himself said in 2023:
President Trump’s obsession with seizing other countries’ oil goes back a ways, to even before he entered politics. Here he is explaining in 2011 why the US should seize half or more of Libya’s oil after murdering its leader, Muammar Muhammad Abu Minyar al-Gaddafi, and plunging what was arguably the richest country in Africa (on a per-capita basis) into total chaos.
There are, of course, a plethora of other reasons for the US’ aggressive moves against Venezuela that we’ve discussed before, including the country’s large deposits of gold, rare earth minerals and freshwater; the opportunity to open up a mid-sized country’s market to rampant privatisation and liberalisation.
It is, after all, the US, mainly during Trump’s two presidencies, that has been stealing all kinds of Venezuelan assets, from the country’s gold reserves to the oil tanker seized in the Caribbean last week, to the president’s official plane, to Venezuelan oil company Citgo.
Exxon has a long, rich history in Venezuela dating back over a century. Its predecessor, Standard Oil, was one of the first companies to explore for oil in the South American country in the 1910s
But that all came to a halt in 2005, when Hugo Chávez ordered all existing “operating agreements” with foreign oil companies to be converted into joint ventures in which the state oil company, Petróleos de Venezuela (PDVSA), held a mandatory majority stake (over 50% ownership and operational control). Exxon refused to sign while most other companies, including BP, Total and Chevron, took the deal.
That high-intensity conflict is now closer than ever. But it needs to be packaged and sold to US lawmakers, media, members of the armed forces, and Trump’s war-weary MAGA base. And that is where CSIS’ “experts” come in. And they appear to be marketing this war on behalf of a company (Exxon) that has much to gain from a military intervention, and which bears the biggest grudge against Venezuela’s Bolivarian movement.
https://www.nakedcapitalism.com/2025/12/shining-a-light-on-how-exxon-mobil-bankrolls-think-tank-experts-pushing-for-regime-change-war-in-venezuela.html
