America Is Partially Responsible for Venezuelan Crisis, But Not In The Way Representative Omar Thinks - American Experiment

America Is Partially Responsible for Venezuelan Crisis, But Not In The Way Representative Omar Thinks - American Experiment
"Representative Omar is in the news regarding her statements that U.S. actions are making the situation in Venezuela worse. On Democracy Now, Representative Omar stated:

““This particular bullying and the use of sanctions to eventually intervene and make regime change really does not help the people of countries like Venezuela, and it certainly does not help and is not in the interest of the United States,” she added.”

Venezuela has the largest oil reserves in the world, and oil production was consistently high, but this began to change in 2016...

...In 2014, it was estimated that Venezuela needed oil prices to be $121 per barrel in order to balance its budget.
...When oil prices dropped, American oil companies got innovative, cut costs, and looked for ways to optimize their business models.
Because they are private companies, they have the most to lose if they can’t solve the problems they face.
Government-run oil companies in Venezuela, on the other hand, can explain away failure because they are creatures of the state with no competition..."