Let’s cut through the fog of war rhetoric: the Trump administration’s extraordinary action this morning against Venezuelan President Nicolás Maduro isn’t about democracy, human rights, or protecting Americans.
It’s about oil. It’s always been about oil.
WHAT’S GOING ON: Venezuela sits on the largest proven oil reserves on the planet—approximately 304 billion barrels, more than Saudi Arabia, more than Iran, more than anyone.
And since Hugo Chávez’s nationalization policies took full effect around 2010, Western oil companies have been largely locked out of that black gold. We’re talking about potentially tens of billions in lost profits for ExxonMobil, Chevron, and their friends.
THE DETAILS: The oil and gas industry didn’t just hope Trump would solve their Venezuela problem—they paid for it.
According to OpenSecrets, the oil and gas industry poured over $75 million into federal elections in 2024, with the vast majority going to Republican candidates and conservative PACs backing Trump. Chevron alone spent millions on lobbying, and major industry players contributed heavily to pro-Trump super PACs.
OF COURSE: This is how it works. Corporations invest in politicians, politicians deliver policy. The return on investment for getting Venezuela’s oil fields reopened to American companies would dwarf whatever they spent on campaign contributions. We’re talking about access to reserves worth literally trillions of dollars.
BUT BUT BUT: “Maduro is a dictator!” Yes, he is. You know who else runs authoritarian governments? Saudi Arabia, whose crown prince ordered a journalist dismembered. The UAE. Qatar. Somehow we manage to do business with them just fine.
The “democracy” justification is a convenient fiction—we support or oppose foreign leaders based on whether they play ball with American corporate interests, period.
WHY IT MATTERS: American lives, Venezuelan lives, and regional stability are being put at risk not for national security, but for quarterly earnings reports.
The same industry that spent decades lying about climate change is now potentially dragging us into military conflict to access more fossil fuels we cannot afford to burn.
BOTTOM LINE: Follow the money. Always follow the money. When the administration tells you this is about protecting Americans or spreading freedom, remember who wrote the checks that put them in power—and what they expect in return.