The US and Venezuela: a century

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-09-03T10:06:57.184Z • Permanent link

Washington's relationship with Caracas has been a long-standing one, spanning nearly a century. The roots of this relationship can be traced back to the 1920s, when the United States first began to exert its influence over Venezuela through its oil companies. Standard Oil of California, later renamed Chevron, was one of the first American corporations to tap into Venezuela's vast oil reserves. Over time, this early influence would grow into a full-fledged partnership between the two nations, with the US providing economic and military aid to Venezuela in exchange for access to its oil.

In 1940, President Franklin D. Roosevelt issued Executive Order 6102, which imposed a moratorium on the transfer of American assets to foreign governments. This move was seen as a response to the increasing influence of the US in Venezuela's economy, and was part of a broader effort to consolidate American control over the region. However, this move was not without controversy, as it was seen as an attempt by the US to exert its dominance over Venezuela's economy.

In 1953, a coup d'etat led by CIA-backed Venezuelan military officers overthrew the democratically-elected government of President Marcos Perez Jiménez. The coup was widely seen as a response to the growing influence of the US in Venezuela's economy, and marked the beginning of a period of increased American intervention in Venezuelan politics. In the decades that followed, the US would continue to exert its influence over Venezuela, providing economic and military aid to the government in exchange for access to its oil.

The implications of this relationship are far-reaching, with significant impacts on the global energy market and the economies of both the US and Venezuela. Companies such as ExxonMobil and ConocoPhillips have long been major players in Venezuela's oil industry, and their interests are closely tied to the stability of the Venezuelan government. Research communities and policymakers alike are closely watching the situation in Venezuela, as the country's economic crisis threatens to destabilize the entire region. The impact on global markets is already being felt, with oil prices fluctuating wildly in response to developments in Venezuela.

The crisis in Venezuela also has significant implications for the US, which has long been dependent on the country's oil reserves. As the situation in Venezuela continues to deteriorate, the US may be forced to re-evaluate its relationship with the country, potentially leading to a significant shift in the global energy market. Policymakers in Washington are already beginning to weigh their options, with some calling for increased sanctions on the Venezuelan government in an effort to pressure it to stabilize its economy.

The relationship between the US and Venezuela is just one part of a broader pattern of American intervention in Latin America. Throughout the 20th century, the US has consistently sought to exert its influence over the region, often through covert means. This has led to a range of complex and often contentious relationships between the US and its Latin American neighbors, with significant implications for regional stability and global politics. In Venezuela, this dynamic is particularly pronounced, with the US providing significant economic and military aid to the government in exchange for access to its oil reserves.