
So Pérez nationalized the oil, eventually making Venezuela one of the richest countries in the world, and their wealth was based primarily around oil. They got extremely rich during the 1970s oil crisis when gulf states stopped supplying the us with oil. So, when cheaper foreign markets opened back up, the us stopped shopping there. At the same time, the gov continued to spend on public systems like food subsidies, eventually they got into extreme debt and Meduro became the successor of a gov/
/that was destined to fail, because their economy was not at all diversified. Cuba, a socialist country bought their oil from Venezuela for years, as well as sent doctors to the county consistently to try to help with the humanitarian crisis. Now the us has seized an oil tanker bound for Cuba in an imperialist display of power.
We can acknowledge corruption, but let’s not act like Venezuela is the country bringing in the drugs killing Americans in mass quantities. Venezuela supplies coke to the us, which is not primarily responsible for overdose deaths. You can’t look at what’s happening there without looking at the country’s past so yeah, I think that info is pretty relevant
Oil is relevant to relations with nearly every nation on earth. You seem surprised that it’s being mentioned. I would never say oil isn’t a factor; I hope you would acknowledge oil isn’t the only factor. And that has not been the logic of the previous three administrations leading up to this point in US-Venezuelan relations.
the rights that they paid the country for. you can’t back out of a contract for free because you don’t feel like it anymore. they’ve been in decline ever since they nationalized their oil, and their total collapse was largely brought onto themselves through maduro’s poor policy decisions in the 2014 oil shock