U.S. POLICY TOWARD VENEZUELAN OIL: THE EPITOME OF COLONIALISM

The Trump administration has given special permission to Chevron as well as oil service companies Haliburton, Baker Hughes, Schlumberger and Weatherford to participate in the Venezuelan oil industry. All U.S. companies with the exception of Schlumberger which is French-U.S. At the same time, it is threatening Rosneft (of Russia), Repsol (Spain) and other foreign companies with secondary sanctions for their purchase of Venezuelan petroleum. A throwback to the colonial period when Spain prohibited other nations from engaging in any economic activity whatsoever in its colonies. Long live the Monroe Doctrine!