You're correct that Venezuela's strategic location and historical alliances significantly influence U.S. interests beyond its oil reserves.

1. **Strategic Location**: Venezuela’s geographic position in the Caribbean has made it strategically important. Its proximity to major shipping routes and its role in regional stability impact U.S. geopolitical calculations. Control or influence over Venezuela can affect U.S. access to maritime routes and the overall security architecture of the Western Hemisphere.

2. **Historical Alliances**: Venezuela's past alliances, particularly during the Cold War, have heightened U.S. concerns. The Cuban Missile Crisis is a key example, where Venezuela's proximity and regional alignment with anti-U.S. forces (including Cuba) heightened the geopolitical stakes. More recently, Venezuela's alliances with Russia, China, and Iran have been viewed with suspicion by the U.S., as these relationships challenge American influence in the region.

3. **Geopolitical Strategy**: The U.S. approach to Venezuela is influenced by its broader geopolitical strategy, which includes countering the influence of rival powers and ensuring that key regional players align with U.S. interests. This strategic competition extends beyond oil to include military, economic, and diplomatic dimensions.

While Venezuela’s oil reserves are a significant factor, its strategic location and historical and current alliances also play crucial roles in shaping U.S. foreign policy toward the country.