Trump’s Imperial Policy Secures Venezuela’s Resources for Big Oil
WASHINGTON, D.C. – Under pressure from the Trump administration, the Venezuelan National Assembly has passed legislation designed to make it easier for U.S. oil companies to invest in the country. In response, Public Citizen Co-President Robert Weissman issued the following statement:
“Trump is deploying drone and gunboat diplomacy to coerce Venezuela into serving up its oil resources to Big Oil. Imperfectly, Venezuela has for most of the last century sought to manage its oil and gas reserves to advance its national interest, rather than that of outside investors. Brutal sanctions and the threat of still more military action from the Trump regime are now forcing Venezuela to turn from that history and make its oil available to Big Oil at discount rates and to agree that investor disputes should be resolved at corporate friendly international tribunals.
“This is imperial policy to benefit Big Oil, not Americans – and certainly not Venezuelans.
“Even still, U.S. oil companies are likely to be reluctant to invest heavily in Venezuela without U.S. government guarantees – a likely next step in Trump’s oil imperialism, unless Congress moves proactively to block it.”
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