President Donald Trump demanded Wednesday that Venezuela return assets that it seized from U.S. oil companies years ago. It backs up his announcement of a “blockade” against oil tankers traveling to or from the South American country that faces American sanctions.
“We’re not going to be letting anybody go through who shouldn’t be going through,” Trump told reporters. “You remember they took all of our energy rights. They took all of our oil not that long ago. And we want it back. They took it — they illegally took it.”
Until now, President Trump has been more focused on the dangerous drugs coming into the US and other countries in the hemisphere. Mexico, notoriously responsible for drugs coming into the US, is working with us and has escaped additional pressure for now.
Asset seizure is another reason to pressure Vincent Maduro, whom the left seemingly wants to defend. Democrats and some Republicans have questioned the bombing of drug boats. They demand the video of a September 2nd bombing in which the cartel drivers were clinging to the boat and were killed by a second missile. Democrats called them shipwreck survivors. If the Pentagon doesn’t turn over the video, Secretary Hegseth will lose 25% of his travel budget.
Stealing US Company Assets
U.S. oil companies dominated Venezuela’s petroleum industry until the country’s leaders moved to nationalize the sector, first in the 1970s and again in the 21st century under Maduro and his predecessor, Hugo Chávez. Chavez offered insufficient compensation. In 2014, an international arbitration panel ordered the country’s socialist government to pay $1.6 billion to ExxonMobil.
Stephen Miller, Trump’s deputy chief of staff, likened Venezuela’s move to nationalize its oil industry to a heist.
“American sweat, ingenuity and toil created the oil industry in Venezuela,” Miller wrote on social media Wednesday. “Its tyrannical expropriation was the largest recorded theft of American wealth and property. These pillaged assets were then used to fund terrorism and flood our streets with killers, mercenaries and drugs.”
When the socialists moved in, they took everything.
Venezuela first moved to nationalize its oil industry in the 1970s, a process that expanded under Chávez, who nationalized hundreds of private businesses and foreign-owned assets, including oil projects run by ExxonMobil and ConocoPhillips. That led to the arbitration panel’s 2014 order.
“There is a case that can be made that Venezuela owes this money to Exxon. I don’t think it’s ever been paid,” economist Philip Verleger said.
Trump blamed his predecessors for not taking a harder line against Venezuela over the asset seizures.
President Trump has threatened to send troops on land in Venezuela. Mainstream media actually aired President Trump’s speech last night because the rumor mill claimed he was going to announce he was going to war with Venezuela. He never mentioned Venezuela.
That is what socialists (Communists) do, they steal money and goods from those who work and either pocket it themselves or hand it over to their lazy, good-for-nothing pals. NYC, Seattle and any other jurisdiction that stupidly elects Commies will find out the hard way, just as the Russians, Chinese, Cubans and others found out many decades ago.