Trump announces deal with Venezuela to secure more than 65 billion barrels of oil reserves
Trump said the agreement could more than double U.S. oil reserves and bring nearly $100 billion in private investment, officials said.
- On Friday, President Donald Trump announced an agreement with Venezuela's interim President Delcy Rodriguez securing majority U.S. control of more than 65 billion barrels of oil through a partnership with private business, directed by Secretary of State Marco Rubio and Secretary of War Pete Hegseth.
- U.S. strategic oil reserves fell below 300 million barrels in early August, prompting the administration to seek new crude sources after six months of Iran-related supply disruptions disrupted global markets and pressured gasoline prices ahead of midterm elections.
- The agreement targets 17 strategic oil fields expected to attract nearly $100 billion in private investment, aiming to revive Venezuela's deteriorated energy sector and secure additional crude for U.S. refineries while generating over $209 billion in tax revenue for Caracas.
- Secretary of State Marco Rubio called the deal 'a huge win for both the American and Venezuelan people,' while the administration claims the transaction will more than double U.S. oil reserves and substantially lower gas prices for Americans.
- Industry experts remain skeptical about immediate production gains due to Venezuela's dilapidated infrastructure and political uncertainty; Francisco Monaldi, director of the Latin American Energy Program at Rice University, warned that meaningful expansion will require years of significant capital investment.
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Fox Flacks Gush Over Trump's Venezuelan Oil Grab
The propagandists on Fox were all-in with Trump's announcement that the US has reached a deal with Venezuela to control 65 billion barrels of country’s oil reserves. Here's more on that from CNN: President Donald Trump said Friday night the United States has reached an oil agreement with Venezuela, a move he said will “more than double” American oil reserves, increase oil supply and lower gas prices. [...] A White House official told CNN the neg…
Trump announces ‘historic’ US-Venezuela oil deal that he says will lower gas prices
(WASHINGTON) - President Donald Trump announced Friday that the U.S. and Venezuela have reached a "historic" oil deal that he said would give the U.S. a majority control of billions of barrels of oil reserves in the Caribbean country and lower gas prices for Americans. [...]
What’s In Trump’s Venezuelan Deal? Allegedly Greatest Oil Deal In History
The deal is illegal, with no immediate impact. But Canada is warned. Trump Claims the Greatest Deal in History Truth Social: BREAKING NEWS: The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY! At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, …
Trump announced a 'historic' agreement with Venezuela that will double America's oil reserves.
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