Deutsche Bank AG(US:DB) Hua Er Jie Jian Wen·2026-01-09 03:59Core Viewpoint - The involvement of the United States in Venezuela's oil sector is not merely about energy but is fundamentally a covert war for maintaining the dollar's hegemony in the global financial system [1][2]. Group 1: U.S. Strategic Interests - Controlling Venezuela's vast oil reserves, which are six times larger than those of the U.S., is seen as a strategic move to enhance U.S. influence over global oil prices and maintain the dollar's status as the world's reserve currency [2][6]. - The U.S. aims to transition from being the largest oil importer to a dominant oil supplier, thereby ensuring that oil continues to be priced in dollars [1][6]. Group 2: Historical Context of Energy Dominance - Historical analysis indicates that nations controlling key energy resources gain significant economic, industrial, and military advantages, which solidify their global dominance [2]. - The U.S. has relied heavily on oil and gas, with over 70% of its energy consumption coming from these sources, making access to low-cost oil essential for maintaining global competitiveness [2]. Group 3: Military and Economic Interdependence - The military's reliance on oil underscores its critical role in maintaining the dollar's status; the U.S. Department of Defense is the largest consumer of oil, with 75% of government energy consumption attributed to military use [3][5]. - Historical precedents show that control over oil supplies has been pivotal in military conflicts, influencing the stability and value of currencies [5]. Group 4: Shift in Pricing Power - The traditional leverage of the U.S. as the largest oil buyer to enforce dollar-denominated transactions is diminishing, necessitating a shift to controlling oil supply to maintain pricing power [6][8]. - By controlling Venezuela's oil sales, the U.S. could ensure that transactions remain dollar-based, even if the oil does not flow directly to the U.S., thereby reinforcing the dollar's position in global trade [8].