Venezuelan oil a key resource amid power transition
Former U.S. Army Capt. Doug Truax and former U.S. Navy Capt. Brent Sadler joins ‘Pakinomist Live’ to discuss the attack on Venezuela and the capture of Nicolas Maduro, break down details of the raid on Maduro’s compound and more.
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Women’s tennis legend Martina Navratilova took to social media on Saturday to share her thoughts on US intervention in Venezuela and supported the idea of criminal sanctions against US companies trying to take oil from the country.
Navratilova praised a post on X proposing the sanctions, writing “love it” in response to journalist Lauren Windsor’s post that read: “Any US oil company that expropriates oil from Venezuela should be sanctioned by the International Criminal Court.”
Navratilova later shared further thoughts on the operation that resulted in the capture of Venezuelan President Nicolás Maduro, with President Donald Trump saying the United States will “rule” Venezuela until the transition of power is complete.
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“Holding a country hostage while they plunder its natural resources. Next stop – either Greenland or Nigeria,” Navratilova wrote in response to a thread that included a report about Wall Street firm officials in the financial, energy and defense sectors visiting Venezuela after the recent strikes.
About twice the size of California has Venezuela the world’s largest proven oil reserves. With an estimated 300 billion barrels, about 20% of the global total and nearly four times US reserves, this endowment dwarfs that of any other nation.
Venezuela’s stockpile, now larger than that of energy titans such as Saudi Arabia, has become a central flashpoint in the geopolitical battle over the country’s future.
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Venezuela’s reserves are dominated by heavy and extra-heavy crudes that require specialized equipment, constant maintenance and advanced refining capacity, much of which has deteriorated after years of underinvestment and the loss of skilled labor.
During his speech on Saturday, Trump accused Venezuela’s socialist government of seizing US energy assets and dismantling an industry built with US investment.
“Venezuela unilaterally seized and sold American oil, American assets and American platforms, costing us billions and billions of dollars,” Trump said. “They took all our property.”
“We built Venezuela’s oil industry with American talent, drive and skill, and the socialist regime stole it from us,” he added.
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Trump added that the United States energy companies would play a key role in rebuilding the Latin American country’s oil sector.
“We’re going to get our very large American oil companies to go in, spend billions of dollars, fix the badly damaged oil infrastructure and start making money for the country,” he said.
