(Source: China-Singapore Jingwei 2026-01-06)

Why does the United States covet Venezuela’s oil?

Dong Xiucheng, Honorary Director of the Expert Committee of China Petroleum Circulation Association and Professor at the w88 casinoIn an interview with Otaku Finance on January 5, he said that recently, the Trump administration released a new version of the US National Security Strategy, which shows that the US strategy has shrunk from the global scope and returned its focus to the Western Hemisphere, mainly the entire American continent.

Dong Xiuchengsaid that in order to implement this strategy, the Trump administration must establish its authority throughout Latin America. Venezuela has long been anti-American, and the United States has used this to control Venezuela through long-term sanctions, blockades, and military operations.

Dong Xiuchengbelieves that the core goal of the United States in controlling Venezuela is actually oil. Oil is a commodity and a key energy source, closely related to the financial hegemony of the United States. Venezuela is very rich in oil, with the largest reserves in the world, but its production is low. The United States is just the opposite. The United States is a large oil producer, but its reserve reserves are relatively small. “For the United States, controlling Venezuela’s oil is equivalent to controlling the oil resources in the Western Hemisphere.”

Why did the US military choose to launch military operations against Venezuela in 2026?

Dong Xiucheng, Honorary Director of the Expert Committee of China Petroleum Circulation Association and Professor at the w88 casinoOn January 5, he told Otaku Finance that the United States has also taken military actions against other sovereign countries in the past, such as Iraq and Libya. The methods were different, but the commonality was mainly for oil.

Dong Xiuchengsaid that another level of reason needs to be considered for Venezuela. The Trump administration’s national security strategy has undergone major changes. “The United States wants to shrink globally and return its focus to Latin America.”

Dong Xiu成believes that this operation was definitely not planned now. The Trump administration chose a time they thought was appropriate. There are many influencing factors, including the international environment, weather, etc. At this time, the United States is "knocking on mountains and shaking tigers." Other anti-American countries with Venezuela as the "leader" may compromise and "at least establish their authority first before they can return to the Western Hemisphere." ”

After the US military launched a large-scale military attack on Venezuela, oil, a strategic resource, has once again become the global focus.

How does the US dollar maintain its hegemony by relying on oil? Has the petrodollar system, which has been in operation for more than half a century, loosened its grip?

Dong Xiucheng, Honorary Director of the Expert Committee of China Petroleum Circulation Association and Professor at the w88 casinoOn January 5, he told Otaku Finance that the core of U.S. dollar hegemony is that global w88 is priced and settled in U.S. dollars. In order to maintain normal w88 relations, central banks of various countries usually hold U.S. dollars in currency reserves, which constitutes a system with settlement and reserves as the core.

Dong XiuchengExplained that after World War II, the United States intended to enhance the status of the U.S. dollar and allow the U.S. dollar to replace the British pound as the dominant global financial currency. To this end, the first step taken by the United States was to link the U.S. dollar to gold. Decades later, especially in the 1970s, the United States was no longer able to maintain the payment status of gold, because when other countries earned dollars, they could go to the Federal Reserve in exchange for gold. However, it was actually difficult to support it, and the United States had a huge w88 deficit again. Therefore, the United States abandoned the gold standard monetary system, but is still committed to maintaining the international status of the dollar.

In this context, the United States took a key measure, which was to peg the dollar to oil. Dong Xiucheng pointed out that at that time, energy, especially oil, occupied an important share in the entire international w88 system. In the early 1970s, the United States took the lead in signing an agreement with Saudi Arabia, stipulating that when Saudi Arabia exports oil to the world, it must use U.S. dollars for settlement and pricing.

How did the petrodollar system come into being?Dong Xiuchengsaid that resource countries export a large amount of oil to Western countries (including the United States and Europe). Due to high oil prices, these countries have obtained a large amount of US dollars. These countries were originally relatively backward in economic development, but after holding large amounts of U.S. dollars, they invested them in European and American markets, such as purchasing treasury bonds issued by the U.S. Treasury Department. In this way, the resource countries earn a large amount of US dollars, and at the same time, the US dollars flow back to the West, especially Wall Street, thus forming a closed loop.

atDong XiuchengIt seems that the petrodollar system has not ended yet, but Trump claims to defend it because there has been some loosening in recent years. Due to geopolitical factors, countries such as Iran and Russia are unable to use the U.S. dollar due to sanctions, which has led to a tendency to de-dollarize, which has had a negative impact on the United States' consolidation of its financial hegemony.

Attachment: video news link

Why does the United States covet Venezuelan oil? Dong Xiucheng: Control of oil resources in the Western Hemisphere

 

A raid on Venezuela, why is the United States so anxious? Scholar: It has been planned for a long time, "knocking on the mountain and shaking the tiger"

 

In-depth video: How does US dollar hegemony rely on oil to support its fantasy?