The Vicious Cycle Trump May Restart
The American seizure of Venezuelan oil is likely the first step in a familiar, unhappy chain of events.
In his 1935 memoirs, Major General Smedley Butler revealed he was a "racketeer; a gangster for capitalism" by serving as a high-class muscle man for Big Business, Wall Street, and the bankers. The wars he fought left lasting impacts, fueling anti-Americanism in affected countries. The Trump administration now appears intent on resurrecting this vicious cycle in Venezuela.
In January, U.S. troops seized President Nicolás Maduro, ostensibly to charge him with drug-trafficking, but with the real intention of seizing Venezuela's vast oil reserves. The administration has offered few specifics, but as Jonathan Chait notes, this is more akin to "a payment by Venezuela of tribute at gunpoint." The Venezuelan people aren't in a position to freely give up their natural resource, as the country hasn't had fair elections in years.
Instead, the U.S. has installed a former Maduro lieutenant as president and overseen his rule as a viceroy. While some may view this deal as a boon for American interests, the Venezuelan people are unlikely to consent, given their lack of democratic input.
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