The Return of Trump's Bankrupt Venezuela Policy

This isn’t likely to achieve anything except driving up the price of oil and further increasing the misery of the people of Venezuela.

Trump is returning to his old failed Venezuela policy:

President Trump said Wednesday he was revoking a Biden-era license allowing Chevron to produce oil in Venezuela over what he said was strongman Nicolás Maduro’s failure to assist in deporting migrants.

Canceling the license is the wrong thing to do, and it moves U.S. Venezuela policy in the wrong direction. This isn’t likely to achieve anything except driving up the price of oil and further increasing the misery of the people of Venezuela. It’s a stupid thing to do, especially when Trump is launching economic wars all over the place at the same time, but that has been the story of Trump’s Venezuela policy from the start.