john_bolton   39

Bolton Pushes Privatization of Venezuela’s Oil as US Ratchets Up Pressure
So, the reason for Bolton advocating having the US companies coming in and seizing the oil is more political, making — one, giving the US a source of leverage, deciding where that oil can go and where the — how the oil revenues can be used, because, up to now, first under Chávez and continuing, to a certain extent, under Maduro, the Venezuelan government, the Bolivarian government, has used those oil revenues for several political purposes. One is to fund social programs that have helped the poor. And, in fact, that was the specific reason that the rich, after ’02, went on strike against Chávez, trying to bring down the economy, because they objected to the oil revenues being used for social programs for the poor. They wanted the oil revenue to flow somehow into their pockets.

And secondly, Venezuela has sometimes used that oil revenue — or, that oil for foreign political purposes. For example, they assisted Haiti, in providing oil to Haiti and canceling — announcing a cancellation of Haiti’s oil debts, a number of years back, under Chávez, when Haiti was in particularly desperate straits. Even in the United States, even in Boston, Congressman Joe Kennedy, the former congressman, years ago, established a program in Boston to provide low-cost heating oil to his lower-income constituents in the Boston area, and part of the way he did that was by making an arrangement with the Venezuelan oil company.

So, if you had American corporations in control of the Venezuelan oil, these kind of political choices could of course be reversed. But in raw economic rationale terms, it wouldn’t make sense at all. It’s a very bold, I think very revealing, initiative by Bolton, and it shows where the US is going on Venezuela now. It shows that the US is seeking to impose what is really a radical-rightist revolution now on Venezuela, because they’re not just proposing to overturn the economic legacy of Chávez, but even of his more conservative predecessors, if they’re talking about privatizing the oil.
John_Bolton  venezuela  US_colonialism  sanctions  privatization  oil_industry 
9 weeks ago by oceanicbeloved

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