Before toppling Maduro, the US spent decades pressuring Venezuelan leaders over its oil wealth
The Conversation••nation
Key Points:
- US special forces conducted an unprecedented operation in Caracas to seize Venezuelan President Nicolás Maduro, with President Donald Trump declaring the US will now control Venezuela, including its vast oil reserves.
- Venezuela holds the world's largest oil reserves, estimated at 303 billion barrels, and US companies are expected to invest billions to upgrade the country's deteriorating oil infrastructure.
- Historically, US-Venezuelan relations have been fraught, especially after Venezuela nationalized its oil industry in 1976, impacting US companies and fueling tensions under leaders Hugo Chávez and Maduro.
- Chávez rose to power on a socialist platform opposing US influence, famously clashing with US administrations and surviving a brief 2002 coup widely believed to have had US backing or knowledge.
