In this article for Tikkun, James Petras, sociologist, widely published author and freelance writer working with landless workers in Brazil, analyzes American relations with Venezuela historically and today. Some quotes to draw you in to this long article:

We will reflect on the capacity of the Venezuelan regime to construct a viable new economic strategy that goes beyond oil dependence to a diversified economy in line with its ‘counter-hegemonic' foreign policy...

For a President like Obama who promised a new more open relation with Latin America and who received a strong endorsement of all Latin American leaders including the ‘radical trio' of Castro, Chavez and Evo Morales, his subsequent continuation of Bush era policies rapidly evaporated the good will and in some cases led to public repudiation...

The key to Obama's decision [to covertly support the ousting of Zelaya in Honduras] is his over riding priority to erode Chavez influence, by overthrowing allied regimes and establishing political-military beachheads for any future military operations...

Washington's resort to a military strategy reflects its global policy but one that is out of tune with the changing priorities and political complexion of Latin regimes. As much as anything, the Obama regime's military position reflects the decline of economic leverage, in part a reflection of the primacy of finance over manufacturing, in part a result of the demise of the empire-centered neo-liberal ideology which greased the wheels of US hegemony. It is clear that Washington has failed to recognize that the restoration of the type of client regimes of the previous decade is a highly dubious proposition; efforts to that effect are likely to provoke greater regime and mass rejection of any overtures to ‘new relations'.