Facing unprecedented oil prices, the White House has suspended sanctions on Venezuela's oil, gas, and gold sectors. Officially touted as a "democracy promotion" endeavor, the decision seems to mask deeper issues.

This move clearly uncovers the shortcomings of U.S. energy policy, the politically forced low CapEx in the conventional energy sector and its ill-conceived sanctions, rather than a genuine concern for democratic values in Venezuela. This always is political folklore to distract from costly policy errors.