In Solidarity - by openDemocracy

Nine months after the US abducted Venezuelan President Nicolás Maduro, a highly unusual oil deal has surfaced. The US claims to have struck an agreement to take control of about a fifth of Venezuela's oil reserves. But this isn't a standard international trade agreement; it’s structured through a Barbados-based private company owned by a controversial businessman, with the US Department of Defense taking a 35% stake.In this episode, we sit down with Francisco Rodríguez, a Venezuelan economist and author of The Collapse of Venezuela: Scorched-Earth Politics and Economic Decline. Rodríguez dismantles the mechanics of this unprecedented $100 billion deal, explaining why major oil companies are nowhere to be found and why Venezuela is currently shipping 40,000 barrels of oil to the US at cost.Chapters: 00:00:00 - Introduction00:03:00 - The Barbados Company and the Missing $100 Billion00:05:00 - Replenishing the US Strategic Reserve at Venezuela's Expense00:07:00 - Bypassing Venezuelan Law and the National Assembly00:09:00 - Comparisons to the 1996 Russian Privatization00:13:00 - Hugo Chávez and the Origins of Economic Collapse00:18:00 - The Devastating Impact of US Sanctions00:22:00 - The Opposition’s "Faustian Bargain" with Washington00:25:00 - "Regime Compliance" and the Future of US InterventionCredits:Presented by Aman SethiProduced by Harry Beney Hosted on Acast. See acast.com/privacy for more information.

Show Notes

Nine months after the US abducted Venezuelan President Nicolás Maduro, a highly unusual oil deal has surfaced. The US claims to have struck an agreement to take control of about a fifth of Venezuela's oil reserves. But this isn't a standard international trade agreement; it’s structured through a Barbados-based private company owned by a controversial businessman, with the US Department of Defense taking a 35% stake.

In this episode, we sit down with Francisco Rodríguez, a Venezuelan economist and author of The Collapse of Venezuela: Scorched-Earth Politics and Economic Decline. Rodríguez dismantles the mechanics of this unprecedented $100 billion deal, explaining why major oil companies are nowhere to be found and why Venezuela is currently shipping 40,000 barrels of oil to the US at cost.


Chapters: 

00:00:00 - Introduction

00:03:00 - The Barbados Company and the Missing $100 Billion

00:05:00 - Replenishing the US Strategic Reserve at Venezuela's Expense

00:07:00 - Bypassing Venezuelan Law and the National Assembly

00:09:00 - Comparisons to the 1996 Russian Privatization

00:13:00 - Hugo Chávez and the Origins of Economic Collapse

00:18:00 - The Devastating Impact of US Sanctions

00:22:00 - The Opposition’s "Faustian Bargain" with Washington

00:25:00 - "Regime Compliance" and the Future of US Intervention


Credits:

Presented by Aman Sethi

Produced by Harry Beney


Hosted on Acast. See acast.com/privacy for more information.

What is In Solidarity - by openDemocracy?

In Solidarity is an openDemocracy podcast about people, power and politics.


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Hosted on Acast. See acast.com/privacy for more information.