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Big Oil’s Win in Venezuela

19 0
16.01.2026

Photograph by Nathaniel St. Clair

Is the illegal U.S. invasion of Venezuela, and kidnapping of its president, a “war for oil”?

To some extent, this is a reductionist debate. There are often multiple motivations for war, and there clearly are several here. Some in the administration are stuck in Cold War ideology and will use any pretext to undermine and even overthrow governments they perceive as left-leaning, as seen from Trump’s threats against Colombia, Cuba, and Mexico.

Beyond those governments, the latest Trump National Security Strategy proclaims a desire to “reassert and enforce the Monroe Doctrine to restore American preeminence in the Western Hemisphere.”

Still, it’s hard to ignore the role of oil. Venezuela likely has the world’s largest proven oil reserves, and Trump has repeatedly declared his intention to seize Venezuela’s oil, partly for the benefit of the United States and U.S. oil companies.

There are reasonable doubts about whether U.S. oil companies would be willing to invest in Venezuela. The poor state........

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