{"id":47368,"date":"2026-09-01T16:40:27","date_gmt":"2026-09-01T20:40:27","guid":{"rendered":"https:\/\/blog.ckms.ca\/?p=47368"},"modified":"2026-09-01T16:40:29","modified_gmt":"2026-09-01T20:40:29","slug":"the-plot-to-steal-venezuelas-oil","status":"publish","type":"post","link":"https:\/\/blog.ckms.ca\/?p=47368","title":{"rendered":"The Plot to Steal Venezuela\u2019s Oil"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright is-resized\"><a href=\"https:\/\/paulkrugman.substack.com\/p\/the-plot-to-steal-venezuelas-oil?publication_id=277517&amp;post_id=213688018&amp;isFreemail=true&amp;r=16ex0z\"><img decoding=\"async\" src=\"https:\/\/blog.ckms.ca\/wp-content\/uploads\/2026\/09\/https3A2F2Fsubstack-post-media.s3.amazonaws.com2Fpublic2Fimages2Fb89b70cf-7a30-4979-aae3-59eef370af66_1240x858.png\" alt=\"\" style=\"width:252px;height:auto\"\/><\/a><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">A scam that is both vile and deeply stupid<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source: <em><a href=\"https:\/\/paulkrugman.substack.com\/p\/the-plot-to-steal-venezuelas-oil\">The Plot to Steal Venezuela\u2019s Oil<\/a><\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">fta:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Now, it\u2019s highly unlikely that this deal will hold. By all accounts, just about every faction in Venezuelan politics except the current ruling clique\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-08-29\/trump-s-oil-deal-riles-both-sides-of-venezuelan-political-divide\">hates the deal<\/a>. Since it will take years, maybe even decades, to realize the putative benefits of oil-company investments in Venezuela, how likely is it that whoever is running that country in the future will want to honor Trump\u2019s terms?\u00a0What are the odds that Venezuela will eventually expropriate U.S. oil-company investments?\u00a0Or do we imagine a future in which the U.S. military\u00a0maintains a permanent occupation of Venezuela, using force to prop up a puppet government the nation\u2019s citizens hate?<br>&#8230;<br>There are also issues with the quality of Venezuelan oil.\u00a0Venezuela appears\u00a0<em>on paper\u00a0<\/em>to have huge oil reserves. But\u00a0much of\u00a0these reserves are\u00a0what I called a \u201c<a href=\"https:\/\/paulkrugman.substack.com\/p\/the-emperors-new-oil-wealth\">black, sticky fantasy<\/a>,\u201d created by\u00a0Maduro\u2019s predecessor Hugo Chavez, when he reclassified\u00a0oil in the\u00a0Orinoco\u00a0Basin\u00a0that\u00a0will be difficult if not impossible to recover\u00a0as \u201cproved\u201d reserves.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>A scam that is both vile and deeply stupid Source: The Plot&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282],"tags":[33,1102,57,32],"class_list":["post-47368","post","type-post","status-publish","format-standard","hentry","category-article","tag-oil","tag-tfg","tag-usa","tag-venezuela","wpcat-282-id"],"_links":{"self":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts\/47368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47368"}],"version-history":[{"count":2,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts\/47368\/revisions"}],"predecessor-version":[{"id":47371,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts\/47368\/revisions\/47371"}],"wp:attachment":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}