This scenario might sound wildly implausible.
Venezuelan oil was not properly discovered yet by the Venezuela crisis. It had been known that oil was there however and oil was discovered just a few years later. Let’s say that an American company is allowed to drill in 1902 and discovers some significant reserves right as the crisis begins. Let’s say TR or a different president catches wind of this oil and decides to see if any European countries involved in the crisis are interested in expanding into Venezuela.
Would any of them take interest?
Venezuela only has 2.4 million people at the time, so while the locals won’t like it and the disease can be rough on occupiers, if America, Britain, Italy, and Germany actually came to an agreement they could probably pull it off without horrendous costs to themselves.
Could this possibly happen? And if so, what would the aftermath of Venezuela being divided between foreign powers be?