Years ago, US oil companies invested heavily in building up Venezuela’s oil production capabilities, but they lost everything when a new government took over and nationalized those assets. Now, many years later, the US is taking over to make things right again for those US companies.
However, during those intervening years, other countries invested heavily in building up Venezuela’s oil production capabilities, including Russia and China. Are those countries also entitled to make things right? And since the US will now “run things” as Trump put it, are we expected to settle those accounts? (answers to both questions: of course not).
As I understand it, approximately 80% of Venezuela’s oil exports go to China. Will the US actions interrupt that flow, and if so, how will China react?
On top of everything else - and worst of all - the US actions in Venezuela provide an example that will embolden China to take Taiwan and for Russia to continue to try taking Ukraine.
Where does it go from here? Is there any chance that the US will do something decent in Venezuela, such as instituting prompt elections and enabling the Venezuelan people to run their own country? Is that a realistic possibility? Does anyone on this board realistically see anything good coming out of this situation?