Bloomberg Talks Former US Ambassador to Venezuela Patrick Duddy Talks Venezuela
Jan 6, 2026
Patrick Duddy, a Visiting Senior Lecturer at Duke University and former U.S. Ambassador to Venezuela, dives into the complexities of Venezuelan politics. He discusses a recent U.S. raid aimed at ousting Nicolás Maduro, asserting it wasn't just a bluff. Duddy outlines the U.S.'s motivations, revealing a mix of regime change, drug trafficking, and oil interests. He emphasizes the importance of rebuilding Venezuela's oil sector and warns against harsh purges during transitions, advocating for social stability instead. A captivating discussion on a critical geopolitical issue!
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Military Posture Signaled Real Resolve
- The U.S. military buildup in the southern Caribbean signaled a serious intent beyond counter-narcotics operations.
- Patrick Duddy says striking a port showed President Trump was willing to escalate against Maduro's regime.
Multiple Motives Drove U.S. Action
- U.S. action combined concerns about legitimacy, drugs, and oil into a single strategy.
- Duddy highlights that Venezuela's illegitimate, repressive regime fueled refugee flows and illicit activity like drug trafficking.
Oil Sector Collapse Drove Economic Freefall
- Venezuela's oil sector collapsed due to mismanagement and mass dismissals of petroleum professionals.
- Duddy notes production fell from about 3 million barrels a day to under 1 million, crippling the economy.