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Western Media Accept Trump’s Plundering of Venezuelan Oil as Business as Usual
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Article by Ricardo Vaz republished from FAIR under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Guardian (9/26/26): “Donald Trump has long coveted the oilfields of other nations.” [26/9/26]
Since the January 3, 2026, military strikes and kidnapping of President Nicolás Maduro, the Trump administration has imposed semi-colonial rule over Venezuela, forcing dramatic shifts in the country’s domestic and foreign policies.
The capstone of the new tutelary regime is an oil deal announced in late August that Trump called “the biggest in history.” The agreement turns over 17 prime oilfields, holding over 20% of the country’s reserves, to a Pentagon-controlled corporation tasked with supplying cheap fuel to the US war machine for decades to come.
After spending years manufacturing consent for US-sponsored regime change in Venezuela (e.g., FAIR.org, 6/4/21, 1/11/23, 2/12/25), having a government in Caracas subservient to Washington represented a new scenario for the corporate media. The novel conditions have raised few significant qualms for Western outlets. Tactical objections notwithstanding, there is no fundamental disagreement with the US running the affairs of a Global South country.
Not ‘stealing Venezuela’s oil’
Energy Secretary Chris Wright (France 24, 3/9/26): “I’ve seen those headlines. ‘We’re Stealing Venezuelan Oil.’ Of course, that’s not true at all.”
Working hand in glove with the Trump administration, the acting Delcy Rodríguez government has overhauled Venezuela’s hydrocarbon legislation (Venezuelanalysis, 7/13/26) to offer what oil experts consider a business environment more favorable to foreign capital than at any point in the country’s history. The new oil agreement with the White House manages to go even further.
The 17 oilfields in question will be taken over by North American Blue Energy Partners (NABEP), a private company in which the Pentagon’s Office of Strategic Capital (OSC) will get a 35% stake while investing nothing—and wielding veto power over its board.
Furthermore, according to the White House, the US State Department will secure 20% of NABEP’s output at cost, and have a right of first refusal over the remaining 80%. On top of this, Venezuelan officials have already suggested Washington would be given an additional “sales discount” (Venezuelanalysis, 9/9/26).
In summary, Trump is looking to secure cheap crude supplies at a time when his disastrous Iran debacle has thrown global energy markets into upheaval. The agreement is so blatantly skewed that US Energy Secretary Chris Wright felt he needed to clarify that Washington was not “stealing Venezuela’s oil” (AFP, 9/3/26).
Nevertheless, Western media outlets were largely unfazed by such an obvious oil grab, euphemistically referring to the deal as “highly unusual” (New York Times, 8/29/26) or “remarkable” (BBC, 9/1/26), at most as “contentious” (Guardian, 9/1/26).
Corporate journalists did raise objections over the central role played by NABEP owner Alejandro Betancourt, a shady Venezuelan businessman who faced multiple money-laundering probes before the Trump administration intervened, and pressured judicial authorities at home and abroad to drop the investigations (BBC, 9/2/26; CNN, 9/4/26; New York Times, 9/4/26).
But media seemed satisfied with Trump’s state and energy secretaries Marco Rubio and Chris Wright pledging that US oversight will keep proceedings honest (Reuters, 9/2/26; New York Times, 9/4/26), despite the fact that billions in Venezuelan oil revenues, controlled by the US Treasury Department since January, are unaccounted for (Council on Foreign Relations, 6/3/26; Financial Times, 7/22/26).
Procedurally transparent plunder
The New York Times (5/5/26) wrote positively of “a new era of accountability” in which “the United States would control Venezuelan oil sales” and “Venezuela would submit monthly budgets to the White House.”
Objections to the Venezuela/NABEP/Pentagon venture were mostly procedural and out of concern for appearances, not driven by any principled opposition to US imperialist predation. Faced with outright colonial plunder of Venezuela, the political and media establishment only demands “accountability” and “transparency” (New York Times, 5/5/26; Financial Times, 9/18/26).
For months, the White House has controlled Venezuelan oil export revenues, with Trump officials openly calling them “one of the largest assets ever to go on the US balance sheet,” and a source of “leverage” over Caracas. Yet Trump’s Democratic opponents have found no issue with seizing another country’s income, raising only questions about the allocation of the funds in reference to alleged corruption on the part of Caracas and Trump insiders (The Hill, 9/30/26; Washington Post, 9/17/26). This despite the fact that the Venezuelan government has to submit a “monthly budget” to access its own funds (New York Times, 1/28/26) and is subjected to US-imposed auditors (Reuters, 4/27/26).
The other source of disappointment with Trump stomping all over Venezuelan sovereignty, but prioritizing oil over regime change, is impatience for the restoration/recovery/return of “democracy” to Venezuela (Politico, 9/2/26; Guardian, 8/30/26; CBC, 9/3/26). Despite widely acknowledgement that Trump is eroding democracy at home (New York Times, 8/20/26, 10/14/26; Guardian, 10/8/26), somehow pundits expected him to prioritize it in an oil-rich foreign country.
In the establishment’s consensus, “democracy” does not mean a political system that meaningfully reflects the Venezuelan people’s collective will, but simply one that empowers opposition figures that have been groomed for years, like far-right María Corina Machado, their undemocratic credentials notwithstanding (FAIR.org, 10/23/25).
Eager to stay in power, Rodríguez has over-complied with every US demand, going as far as adopting language about Venezuela undergoing a “democratic transformation.” Her pliancy has earned her favorable corporate media profiles that completely contrast with the demonization of Maduro.
After securing an exclusive interview, Time (7/30/26) described the acting leader as a “disciplined operator” who “advocate[s] for greater economic openness,” in contrast to the “authoritarian” Maduro, who oversaw “economic collapse.” Along the same lines, the Guardian (9/12/26) presented Rodríguez as a “a pragmatic, witty and intelligent workaholic,” unlike her “authoritarian” and “incompetent” predecessor in the presidential palace.
Nevertheless, given the broad Beltway consensus for comprehensive regime change, it is unlikely that the Rodríguez administration’s subservience to Trump will secure any leeway in determining its political path forward, free from outside meddling—especially if, as is anticipated, the GOP lawmakers most likely to be impressed by such obsequiousness lose power in the US’s upcoming midterm elections (Axios, 9/23/26; Financial Times, 10/9/26).
Please think of the corporations!
Reuters (9/1/26): ExxonMobil and ConocoPhillips “have repeatedly said that their requirements of legal certainty and contract sanctity ‌have not ⁠yet been met.”
Alongside their exceptionalist expectations about “democracy,” legacy outlets also focus on those they consider the true victims of Trump’s neocolonial offensive in Venezuela: multinational oil corporations.
According to Reuters (9/1/26), the recent oil deal “raises red flags for major producers,” who fear having their reputation sullied by being “seated at the same table with Betancourt,” as well as the prospect of the US government becoming a “competitor.”
Bloomberg (8/30/26) raised concerns that the agreement “reprises [the] neocolonial past” of Venezuela’s oil industry. The warning stems not from apprehension that the Venezuelan people’s future is being determined by a foreign nation, but from fear that the US’s “out-sized power” might lead to “popular unrest.” This could create conditions for what the business mouthpiece views as a catastrophic outcome: the nationalization of foreign-owned oil assets.
“The troubled history of Venezuela’s oil offers a cautionary tale,” Bloomberg’s Kevin Crowley and Patricia Garip wrote:
The country was once dominated by US and European operators and was among the world’s largest producers. But assets owned by ExxonMobil Holdings Corps. and ConocoPhillips were seized and nationalized during political upheaval in the 2000s.
Corporate media present companies that made massive profits in Venezuela for decades as victims, because the Chávez government wanted them to comply with new laws and accept minority stakes in joint ventures.
The New York Times (9/1/26) complains that the two corporations “have spent years trying to get the country to repay them for their seized assets, with little success.” The statement conceals the fact that the Venezuelan government, when it enacted the 2007 decree imposing state majority in all Orinoco Oil Belt projects, offered to compensate ExxonMobil and ConocoPhillips for their transition to minority partners, or to buy out their assets altogether. However, both corporations rejected the offers in order to pursue international arbitration. The former has already recouped most of what it was granted, while the latter will eventually collect on a significant award.
Despite the fact that Chevron, BP, Shell and other energy giants have signed deals in recent months taking advantage of the reformed hydrocarbon law (Venezuelanalysis, 9/3/26), pundits complain that ExxonMobil and ConocoPhillips remain “hesitant” (CBS, 8/31/26) and need to be “lured” (Reuters, 9/1/26). Still, the Western corporations are likely to return to the country with favorable deals (Reuters, 9/16/26).
The victor and his spoils
Belén Fernández (Al Jazeera, 9/24/26): “You’re not technically supposed to admit that you attacked a country just to get its oil.”
Faced with strategic defeat in West Asia, Trump has clung to his Venezuela success, stating on multiple occasions that “to the victor belong the spoils,” in reference to the US hijacking the Venezuelan oil industry following the January 3 attacks and presidential kidnapping (Al Jazeera, 9/24/26; Guardian, 9/26/26).
Furthermore, Trump has not been shy in boasting about the US winning a “war” against Venezuela (Financial Times, 9/18/26; New York Times, 6/26/26). Corporate journalists have rarely pointed out that this stance directly contradicts the administration’s official position that the kidnapping of Maduro and Flores was a “law enforcement” operation (New York Times, 1/6/26; PBS, 1/8/26) in order to justify bypassing congressional approval.
The US president has likewise claimed to have recovered the costs of the military operation “many times over” (Al Jazeera, 3/3/26; Guardian, 6/28/26), a fact confirmed by Luigi Pisella, a business sector spokesperson with close ties to the acting Rodríguez administration (Venezuelanalysis, 8/10/26). Pisella stated that the US has retained $4.7 billion from the Venezuelan export revenues it controls to cover the costs of its military operation.
In spite of their ostensible hostility to Trump, corporate outlets have historically been complicit with his Venezuela policies, from whitewashing a deadly sanctions program (FAIR.org, 6/13/22) to endorsing a military buildup over debunked “narcoterrorism” accusations (FAIR.org, 11/19/25). The New York Times and Washington Post went as far as to withhold information in order to not jeopardize the January 3 operation (FAIR.org, 1/13/26).
Now, with a semi-colonial regime in place, the only concerns are about procedural transparency, democratic appearances and the well-being of multinational corporations. The Venezuelan people always get the short end of the stick.
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Article by Ricardo Vaz republished from FAIR under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Climate science denier Donald Trump confirms that he knows nothing about democracy and that more liquid gold is being secured according to his policy of global privateering.
24 October 2026
Palantir Targets MPs With ‘Intimidating’ Letters
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https://novaramedia.com/2026/10/22/palantir-targets-mps-with-intimidating-letters/
Artwork: Filippo Marra/Novara Media | Photo: Roger Harris/House of Commons
‘They will not shut me up.’
…
Clive Lewis, the Labour MP for Norwich South, revealed that he had received a letter from Palantir’s new UK senior VP, Tom Watson, warning him that the company was surveilling his activities relating to Palantir last month. Lewis described this as “very Big Brother” and an “implicit threat”.
Watson is a former minister and Labour party deputy leader who now sits in the House of Lords, alongside his Palantir job.
Lewis told Novara Media the Mosley letters in June indicate that Palantir was panicking as the Starmer administration crumbled. “They put all their eggs in one basket with Starmer, and then the writing on the wall was that he wasn’t going to be around much longer.”
Corbyn has repeatedly questioned the wisdom of using Palantir’s tech in the NHS, given the company’s role in supplying military tech to the IDF during the genocide in Gaza and surveillance tools to ICE as it conducts brutal a [sic] immigration crackdown in the US.
…
A small excerpt of a longer article here: https://novaramedia.com/2026/10/22/palantir-targets-mps-with-intimidating-letters/
24 October 2026
From aristocracy to ‘assetocracy’ – how wealth has transformed the House of Lords
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The State Opening of Parliament 2026. House of Lords / Roger Harris, CC BY-NC-ND
Huw Macartney, University of Birmingham
On April 29, 2026, the remaining hereditary peers left the House of Lords. These 92 individuals were the last vestiges of an era in which the landed aristocracy dominated the UK’s second chamber. In the recent past, as many as 800 aristocrats filled the red benches. Now though, a new financial elite appears to have taken their place.
Gradually, the dominance of the aristocrats gave way to a more meritocratic order of life peers. In 1999, Tony Blair’s government removed most of the hereditary peers; in 2026, Keir Starmer’s government finished the job. But did removing them really make the House of Lords any less elitist?
These were some of the issues I sought to explore with a team of graduate researchers at the University of Birmingham. We set about gathering what is, to the best of our knowledge, the largest-ever repository of the financial and political activities of the Lords. Over 18 months, we collected details of all the shareholdings, company directorships, landholdings, rental properties, education, attendance and speeches in the second chamber, as well as voting records for all Lords. These are presented in my new book, The Assetocracy.
What we uncovered was staggering. More than 260 peers hold multiple, individual shareholdings – stakes in listed companies – worth more than £100,000 apiece. In fact, some Lords held more than 200 individual holdings, each valued in excess of £100,000. Even assuming each asset was only worth £100,000, that would put the combined value of those shareholdings alone at more than £22 million.
Put simply, this reflects a level of wealth far beyond that of all but the richest people in Britain. In fact, 14 Lords appear in The Sunday Times Rich List of the UK’s wealthiest people, with a combined net worth of £27.8 billion.
Moreover, half of the House are landlords with rental income. And 250 peers hold one or more paid company directorship. In short, this is an extraordinary concentration of wealth at the heart of Britain’s second chamber.
The social profile of the Lords is equally revealing. Nearly half of peers were privately educated, compared with just 7% of the wider population. Around one third went to Oxford or Cambridge, compared with just 1% nationally. And 11% attended some of Britain’s most elite schools, where annual fees can now top £60,000.
Our conclusion? The Lords is not merely wealthy, it is an institution steeped in economic, educational and social privilege. Yet remarkably little is known about the extent of this wealth. Disclosure requirements remain limited, leaving many of the peers’ financial interests hidden from public view.
And that matters. Membership of the Lords can sit alongside extremely lucrative private-sector careers. Several peers, for example, declared earning between £100,000 and £300,000 a year from company directorships and advisory positions – on top of their parliamentary roles and Lords allowances (a £371 daily rate).
Aristocrats have gone – but privilege has not
This is the paradox at the heart of the modern House of Lords. The old aristocracy may be disappearing from the red benches, but wealth and privilege have not disappeared with it. The aristocracy has increasingly given way to what we termed an “assetocracy” – members of the new financial elite whose power rests on property, finance and accumulated asset-based wealth.
Reforming the second chamber has previously been tied to either removing the aristocratic hereditary peers or (ostensibly) increasing the scope for non-elite appointments. This is primarily done through the House of Lords Appointments Commission and the introduction of crossbenchers, whose appointment does not depend on prime ministerial patronage or political donations.
Yet while these efforts appeared to be producing a diverse collection of Lords through the early 2000s, the trend was reversed with the arrival of the Conservative governments of the 2010s. Since then, my research shows that the second chamber has seen a striking influx of the new “assetocratic” elite.
Appointments of peers with shareholdings over £100,000 (by political party)
My research also reveals a small but clear relationship between wealth and participation in the Lords. Previous accounts have shown that some political donors appear to treat a peerage as a status symbol, playing little part in the day-to-day work of the House. My findings suggest however, that the pattern extends beyond political donors. On average, the wealthiest peers tend to attend less, speak less and contribute less to the work of the House.
One of the book’s central conclusions is that the rise of the assetocrats in the Lords coincided with a wider transformation of British society. It was a period when wealth inequality grew and asset ownership became an increasingly important source of economic advantage.
The Lords did not create these changes, nor are its members the only or primary beneficiaries. But my research shows how peers have often sought to narrow the terms of political debate around wealth and redistribution. They have defended a system that privileges asset ownership and particular forms of wealth accumulation.
For example, Lord Leigh of Hurley, a Conservative peer and businessman, told the House in 2025 that “we need to teach kids that so-called ‘earned income’ is paid, weekly or monthly, without any risk whatever, while ‘unearned income’ is typically generated from an investment, which involves risk to capital and, therefore, deserves greater reward”.
The research points to three conclusions. The first may seem paradoxical, but the more I researched the Lords, the more convinced I became that – certainly on issues beyond wealth and inequality – it is a remarkable source of expertise that often improves and strengthens legislation. That is why abolishing the Lords would throw away an institution that still performs an important democratic function.
Second, reform is nonetheless overdue. Prime ministerial patronage should be curtailed; minimum expectations for attendance and participation introduced; transparency over financial affairs should be increased; and outside employment more tightly regulated where it creates conflicts of interest.
But there is a bigger issue. The transformation of the Lords reflects a much more profound transformation of society. Over the past five decades, the UK has become an economy in which owning property, shares and other assets is an increasingly important route to extraordinary wealth. Removing the last vestiges of the old aristocracy from the Lords will not solve the problem. The deeper challenge is confronting the structural forces that have allowed a new asset-owning elite to take its place.
This article features references to books that have been included for editorial reasons, and may contain links to bookshop.org. If you click on one of the links and go on to buy something from bookshop.org The Conversation UK may earn a commission.
Huw Macartney, Associate professor in Political Economy, University of Birmingham
This article is republished from The Conversation under a Creative Commons license. Read the original article.
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
24 October 2026
Israeli forces begin demolishing Palestinian buildings in Hebron after two Israeli soldiers shot dead
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https://www.bbc.com/news/articles/cq4g1p974wxko
Diggers were seen demolishing Palestinian homes on Friday afternoon
The Israeli military has begun demolishing Palestinian buildings in the city of Hebron, after two Israeli soldiers were killed in an attack by two Palestinian gunmen.
Prime Minister Benjamin Netanyahu said the military would “destroy” the neighbourhood where the two attackers came from, and that Israel was ready for “extensive action” in the occupied West Bank.
Three other soldiers were wounded in the attack at a checkpoint outside Hebron, before the gunmen were shot dead, officials say.
It comes at a time of high tensions, with extremist Jewish settlers targeting Palestinians during the annual olive harvest, and Israel’s general election taking place in four days’ time.
Footage verified by the BBC shows an intense gun battle between soldiers and the gunmen. Other footage shows two gunmen exit a car armed with what appears to be a handgun and an assault rifle and start firing on soldiers at the checkpoint, before coming under return fire.
…
Speaking later from the scene, Netanyahu said that the military would “demolish this place and completely transform it,” referring to the Hebron neighbourhood where the attackers are said to have come from.
It is common for Israeli forces to demolish the homes of Palestinians who are suspected of carrying out attacks on Israelis -a practice Israeli rights groups have criticised as collective punishment.
Netanyahu likened his plans to previous operations in West Bank refugee camps where residential buildings were demolished and thousands were displaced.
…
See the original article at https://www.bbc.com/news/articles/cq4g1p974wxko
Keir Starmer objects to criticism of the IDF. He asks how could anyone object to them starving people to death, forced marches like the Nazis did, bombing Gaza’s hospitals and universities, mass-murdering journalists, healthworkers and starving people queuing for food, killing and raping prisoners and murdering children. He calls for people to stop obstructing his genocide for Israel. New Labour UK Prime Minister Andy Burnham continues Labour party policy of active support and complicity in Israel’s genocide.
23 October 2026
‘Pause AI Now!’ Sanders Says as US Banks Let Agents Operate in Customer Accounts
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Article by Brett Wilkins republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0).
Protesters in New York City take part in the “Freeze AI Now” national day of walkouts on October 20, 2026. (Photo by Kena Betancur/Getty Images)
“Left unchecked, AI could endanger the entire global financial system—including your bank account.”
Sen. Bernie Sanders on Thursday renewed calls to pause development of artificial intelligence following reporting that unauthorized AI agents are operating inside the systems of major US banks.
Axios’ Madison Mills revealed that Morgan Stanley, Bank of America, JPMorgan Chase, Wells Fargo, and other financial institutions are “racing to contain agent risks,” including “situations when an agent or AI assistant accesses a human’s account with the user’s permission and login credentials,” which “goes against the guidelines of most banks requiring that humans log in to their own accounts.”
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In AI, an agent is a system that can take actions to complete an assigned task, rather than simply responding to queries or generating text.
According to Mills’ reporting—which cites people familiar with the matter—some agents have contacted bank call centers or appeared to take actions independently of users’ instructions.
Banking executives interviewed by Mills described the problem as “horrifying,” with one official warning of potentially serious consequences for customers’ finances.
The stakes are particularly high, the executives said, when AI agents have permission to make purchases or transfer funds. Banks are also struggling to determine whether activity is actually authorized by customers or whether an agent has gone rogue.
“This is insane,” Sanders (I-Vt.) posted on social media in response to Mills’ report. “We cannot allow AI agents to go into your bank account and act independently without your authorization.”
“But that is what’s happening right now,” he continued. “Left unchecked, AI could endanger the entire global financial system—including your bank account.”
The senator added, “Pause AI NOW!”
Sanders has repeatedly warned that the race to create increasingly powerful AI systems is outpacing efforts to ensure their safety. Such concerns are mounting as profit- and ego-driven tech oligarchs race toward the “holy grail” of artificial general intelligence (AGI)—an advanced AI that can understand, learn, and apply knowledge of any subject as well as or better than a typical human.
Earlier this month, Sanders renewed his call for a congressional ban on the development of advanced AI, citing Big Tech oligarchs’ secret preparations for a “catastrophic AI event.”
The senator has repeatedly cited pioneers like Geoffrey Hinton who have warned that superintelligent AI—a development that experts believe could come after AGI—might wipe out humanity, as well as less existential but still potentially devastating outcomes like xAI CEO Elon Musk’s prediction that AI and robots could “replace all jobs.”
Last month, Sanders and Congressional Progressive Caucus Chair Greg Casar (D-Texas) introduced legislation to pause advanced AI development and ban the creation or deployment of artificial superintelligence. Sanders also wants a moratorium on the construction of new AI data centers.
The banking story underscores the growing challenge of deploying autonomous AI systems in consequential settings before their behavior can be reliably controlled or monitored.
JPMorgan CEO Jamie Dimon last week announced a ban on outside AI agents from accessing customer accounts.
Sanders wasn’t the only elected official who responded with alarm to the new Axios report.
“This is the exact thing we’ve been warning about for years,” Sen. Mark Warner (D-Va.) said on social media. “AI agents with unrestrained access to your bank account and protected information. When consumer AI agents are accessing YOUR bank account or using YOUR credit card, they must be subject to fiduciary-like duties of care.”
“We need to pass my AI AGENT Act to get some basic guardrails in place,” Warner added, referring to legislation that would establish federal rules for artificial intelligence agents that act on people’s behalf.
Congressman Ted Lieu (D-Calif.) also weighed in on the report, writing on social media that “the Trump administration and GOP leadership made the deliberate decision to let the AI industry run wild.”
“That was a bad political decision,” he added. “And now it’s become a potentially catastrophic policy decision.”
On the other side of the political aisle, Republican Florida Gov. Ron DeSantis—who has opposed the Trump administration’s efforts to prevent states from regulating AI—said on X, “Imagine a rogue AI agent liquidating your bank account and investment portfolio.”
“If you are the only victim, I suppose you could get made whole by the AI company responsible,” he added. “If rogue agents liquidate hundreds of billions across millions of accounts, the AI company would go bankrupt and you wouldn’t get made whole.”
The new Axios report comes two days after nationwide “Freeze AI Now” walkout protests by students, workers, academics, and others demanding an immediate halt to further AI development until the public has a meaningful say in how the technology is built and regulated.
Article by Brett Wilkins republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0).
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
23 October 2026

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