Opinion from a Libertarian ViewPoint

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Posted by M. C. on November 28, 2022

‘Put America Last’: Biden Gives Chevron Greenlight To Start Pumping Oil In Venezuela Again

By  Ryan Saavedra

‘Put America Last’: Biden Gives Chevron Greenlight To Start Pumping Oil In Venezuela Again

CARACAS, VENEZUELA - DECEMBER 08: Nicolas Maduro President of Venezuela speaks to the media to give a balance of the recent Parliamentary elections during a press conference at Palacio de Miraflores on December 8, 2020 in Caracas, Venezuela. On sunday 6th Venezuelans voted for the Parliamentary Elections with a 31% turnout and 68.4% of the votes for the United Socialist Party of Venezuela (PSUV) according to the National Electoral Council.
Carolina Cabral/Getty Images

Democrat President Joe Biden faced backlash over the weekend after his administration announced it would allow Chevron to resume pumping oil in socialist Venezuela.

The move from the leftist Biden administration reversed restrictions that the Trump administration had put on companies in an effort to oust socialist dictator Nicolás Maduro.

“On November 26th, the Unitary Platform and the Maduro regime announced the resumption of talks in Mexico City; a humanitarian agreement focused on education, health, food security, flood response, and electricity programs that will benefit the Venezuelan people; and agreement on the continuation of talks focused on the 2024 elections,” the Treasury Department said in a statement. “Following this announcement and consistent with U.S. government policy, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela General License (GL) 41, authorizing Chevron Corporation to resume limited natural resource extraction operations in Venezuela.”

The statement said that the move by the administration to “provide targeted sanctions relief” was based on the Venezuelan government’s recent actions to help its people and “support the restoration of democracy.”

The sanctions relief that the administration is providing to Venezuela will last six months, at which point it could be revoked or amended.

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