Venezuela Apparently Loves Dependency

After having periodically looked at Telesur over the years, it is absolutely fascinating to see it become pro-U.S. and basically anti-socialist. Without realizing it, this article about the U.S. oil deal outlines exactly what dependency theory argued was destructive:

Venezuela aportaría acceso a sus recursos energéticos y a su mano de obra cualificada, mientras que Estados Unidos contribuiría con tecnología y capital. El presidente venezolano describió el acuerdo como una combinación de las fortalezas de ambos países.

Venezuela cuenta con una larga trayectoria en la producción petrolera y una fuerza laboral con experiencia en exploración, extracción, refinación y actividades industriales afines. Sin embargo, gran parte del sector requiere modernización de equipos, inversión técnica y mayor financiamiento.

Mientras tanto, Estados Unidos cuenta con importantes compañías energéticas con acceso a tecnologías avanzadas, capital a gran escala y redes de distribución internacionales. Estos recursos podrían utilizarse para mejorar la recuperación de petróleo, reparar la infraestructura y aumentar la fiabilidad de la producción venezolana.

People don't talk much about dependency theory anymore but it is certainly relevant. The United States brings in private industry, capital, technology, and distribution networks. Venezuela provides its oil and some workers.

And the profit? If you look at the history of U.S. domination of natural resources, including in Venezuela, you'll notice that the Latin American country came to realize it was a terrible deal. Money will be flying out of Venezuela with the rationale that it is required to keep technologies updated, buy and repair equipment, etc., etc. That will keep happening until a Venezuelan government says it has to stop. How long that will take is impossible to guess.

Along those lines, note that María Corina Machado just gave a speech calling for elections. She did not mention the deal but it seems clear that she realizes the only kind of government that can push back against the U.S. is a democratically-elected one. There's no way she likes this deal. I haven't seen Dinorah Figuera comment on it, but I don't think anyone can laud it, opposition or Chavista. For Chavistas it's a betrayal of the revolution and for the opposition it's a betrayal of national resources by a government beholden to the United States.