- Mar 7, 2014
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BBC News - US Congress passes bill to impose Venezuela sanctions
So, in 2001 there were 4 OPEC countries who didn't like the US. Venezuela, Iran, Iraq and Libya.
Two were taken down with force, there was a coup d'etat helped by the US "department for the promotion of democracy" or whatever it's called, which took down a democratically elected leader in the name of democracy (go figure), and there have been heavy sanctions against Iran.
|Now oil prices are hitting lows, the US is getting worried. More expensive oil production than OPEC countries see means lower prices mean much less profits for US companies than OPEC countries. The US can't sanction Saudi Arabia and the other OPEC allies, so it's going after Venezuela.
So, in 2001 there were 4 OPEC countries who didn't like the US. Venezuela, Iran, Iraq and Libya.
Two were taken down with force, there was a coup d'etat helped by the US "department for the promotion of democracy" or whatever it's called, which took down a democratically elected leader in the name of democracy (go figure), and there have been heavy sanctions against Iran.
|Now oil prices are hitting lows, the US is getting worried. More expensive oil production than OPEC countries see means lower prices mean much less profits for US companies than OPEC countries. The US can't sanction Saudi Arabia and the other OPEC allies, so it's going after Venezuela.