Petroleumworld's View: Venezuela's coup
The petroleum embargo is probably the best single measure that could have a crucial positive effect...
Sunday the Venezuelan regime is holding an illegal election which will produce an illegitimate Constituent Assembly, a legislative group with supra-constitutional powers designated by the regime to rewrite a new constitution to fit the desires of the present Cuban oriented regime . They will dismantle all existing powers and political institutions. They will replace state governors, local mayors, courts, officers such as the Attorney General, and all elected officers associated with those institutions. They will cancel all future universal and free elections as they write a new constitution to fit their totalitarian ways. Venezuela will be known as Cubazuela.
Venezuela has become what it is on the basis of rigged elections via electronic votes. Although the 2015 National Assembly elections were also rigged Venezuelans managed to vote massively, winning the majority of the seats . When the National Assembly majority began to question the intentions of the executive a war developed between the Assembly and the regime. Last week the National Assembly organized a popular consultation or referendum where almost 8 million of Venezuelan rejected the proposed Constituent Assembly, a number of votes that exceeded the number that voted for the present regime in the last presidential elections.
The international community has become involved to no avail. The Organization of American States has asked the regime to respect the Interamerican Democratic Charter . The Vatican tried to mediate in negotiations but soon became discouraged. The current public administration is run by criminal individuals engaged in corruption, drug traffic, massive theft of the Republic patrimony and the promotion of the Cuban objectives of controlling Venezuelan oil and other resources. There is no way to negotiate with Bandidos other than applying popular pressure, which is what is taking place.
The U.S. government has played a naive role in this past 19 years. Obama's policies promoted negotiations between the government and the opposition instead of taking a strong stand against the undemocratic policies of the regime. Only at this time the Trump administration has expressed vigorous support for the Venezuelan National Assembly and has demanded that the regime respects the constitution.
This week the U.S. Administration sanctioned 13 Venezuelan government officials, including the minister of the Interior and PDVSA's treasurer and threatened the regime with punitive measures including an oil's embargo. The petroleum embargo is probably the best single measure that could have a crucial positive effect on regime change but only if it is accompanied by other measures coordinated with its Latin American neighbors and the rest of the nations that have relations with Venezuela.
Venezuela at the present exports 700,000 barrels a day to the United States and receives 95% of its exports revenues from the U.S. an amount which represents 90% of its income budget. A cut of these revenues would be lethal for the regime, even if it also affects severely the population. According to the polls Venezuelans will support the embargo. In an article by Panam Post on this same page and in an editorial by Elio Ohep, Petroleumworld's Editor- in - Chief last week (in Spanish) you will find the arguments supporting Venezuela's oil embargo by the U.S. This seems to be the only way to force the regime to seat-down and negotiate a reasonable solution to end the misery of the Venezuelan people.
In the meantime and during the last four months Venezuelans have been fighting the regime strongly with mass street demonstrations in which hundreds of thousands of Venezuelans have participated. More than 120 people have died, over 1,000 have been injured, and more than 2000 demonstrators are being held in jail. If the constituent assembly is passed, the United States should react strongly and decisively and punish Venezuela's corrupt rulers, in order to liberate the long-suffering population.
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Petroleumworld News 07/31/2017
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