When Trump, years ago, said that he would seize a foreign nation’s oil – usually Iraq – it sounded so awful that, to my my imperfect memony,. all I posted about it was that it is bad, rather than focus on the practicalities.
If Exxon or Chevron or ConocoPhillips became known for paying taxes and fees only to the United States, and not to the local government, any local government outside current U.S. control would likely refuse to renew their contracts. So the U.S. would have had to set up a new company, or government department, specializing in oil extraction piracy. This company would have high costs because of the security requirements, because workers would reasonably demand extra-high pay to compensate for personal reputational damage and physical danger, and because the most productive workers – especially managers – would refuse to work there.
I’m unsure, but I doubt this administration has the competence to set up a money-making piracy operation.
Trump doesn’t care one iota about civil liberties at home let alone in Venezuela. He’s going to want to skim some oil money and have whoever’s in power build CECOT 2 while Rubio and Hegseth move on to Cuba.
I’m wondering if any Chevron employee will be considered a collaborator to American imperialism, and dealt with accordingly. The cost of protection for employees and infrastructure will likely be immense. And world oil prices currently do not justify much investment at all. Finally, world boycotts would harm the company.
I would not count on a quick buy-in by Chevron.
What oil company is going to invest billions in Venezuela, when they know everything could change in three years? ConocoPhilips got a $10 billion arbitration judgement against Venezuala after Chavez nationalized the oil industry, that still hasn’t been paid. Are they really going to say, “Thank you sir! May I have another?”
Not even Democrats, necessarily. I used “opposition” as my adjective quite deliberately. If Trump fatigue compels the GOP to drag itself back even slightly in the direction of normalcy out of sheer electoral survival, and they manage to elect a less-extreme President who attempts to quietly unwind some of the Trump faction’s madness, that President can be attacked as a RINO. Even after Trump dies, aggressive displays of fealty to his “vision” (including “successfully” dominating Venezuela and stealing its resources) will be a litmus test for at least a decade.
Dead soldiers in Venezuela under a Democratic President will be evidence of failure and treason. Dead soldiers in Venezuela under a Republican President will be evidence that we’re not Murica!-ing hard enough.
On a different note, what is going to happen to Venezuela’s gold in London?
Venezuela has about 31 tonnes of gold held in the vaults of Threadneedle Street, equivalent to about 15% of its total foreign currency reserves.
[…]
Held in London since the 1980s, the practice of governments storing bullion in Britain is not unusual: the Bank keeps about 400,000 bars on behalf of governments and institutions worldwide, as the second-largest global storage hub after the New York Federal Reserve.
Since 2018, however, Caracas has been blocked from repatriating the gold amid pressure on Maduro, after the disputed outcome of Venezuela’s presidential elections that year
There’s nervousness in the UK and Europe about the existence of this ‘Russian’ tanker, that’s currently close to the British Isles.
This tanker is flagged as Russian now and the last time a European country tried to seize a Russian shadow fleet ship, Putin sent a fighter jet for a visit and NATO scrambled its own jets in response. So there’s a bit of nervousness in NATO about how the US will enforce their blockade and deal with this ship.
The US has been using two aircraft based in the UK to shadow the ship and in the last few days have sent two AC-130 gunships and numerous CS-17 transport planes to the UK. The ship has been heading north which is where a lot of Russian subs may be operating (the position has been inferred by the presence of the planes that are tracking it as the ship has turned its transponder switched off).
Speculation is that it might be carrying some sort of military equipment as Venezuela has received lots of Russian hardware to help Maduro stay in power and project influence in the region.
Followed by welcoming certain Venezuelans who cooperated with us, as privileged refugees.
Followed by “fuck 'em, like any other brown wannabe US resident.”