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The Guardian view on Trump’s raid in Caracas: oil matters, but it’s not the whole story | Editorial

The seizure of Venezuelan leader was induced by the prize of petroleum, but driven by spectacle, geopolitics and domestic politicsIt’s all about oil. That was the reason Nicolás Maduro, the Venezuelan leader illegally abducted by US forces at the weekend, had given for Donald Trump’s fixation with his country. A better way to think about Venezuela is that oil was necessary but not sufficient. The presence of vast reserves made Mr Trump’s interest understandable – if Venezuela’s main export was bananas this would not have happened. But oil alone cannot explain the timing or scale of the move.Venezuelan crude is extra-heavy as well as expensive and slow to bring online; it will not immediately transform US energy systems, nor rescue refineries that have already adapted to years without it. Instead, oil is the “prize” around which other agendas cohere. These include future profits for US firms; modest downward pressure on oil prices; depriving China of a meaningful ally in Am...


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