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Venezuela Oil Deal May Be a Win, but It Shouldn’t Set a Precedent
The pact gives the Pentagon a 35% stake and guarantees U.S. purchases of one-fifth of production at cost, officials said.
- On Monday, the United States revealed a 100-year agreement securing rights to 17 Venezuelan oil fields containing 65 billion barrels, granting the Pentagon a 35% ownership stake in a newly created company.
- Eight months ago, American aircraft launched from 20 bases as a special operations team entered Caracas and removed Venezuelan President Nicolás Maduro from a fortified compound without congressional authorization.
- An estimated $100 billion in infrastructure commitments could revive Venezuela's oil industry, while the State Department secured a guarantee to purchase one-fifth of the production at cost.
- Critics argue the agreement bypasses constitutional norms, noting the president ordered military action without congressional authorization before securing long-term resource rights in the aftermath.
- While the deal bolsters energy security and reduces Russian and Chinese influence, analysts question whether the current government has authority to bind future generations to a 100-year agreement.
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Venezuela oil deal may be a win, but it shouldn’t set a precedent
Eight months ago, American aircraft launched from 20 bases as a special operations team entered Caracas and removed Venezuelan President Nicolás Maduro from a fortified compound. Dozens of Venezuelan and Cuban personnel were killed. Congress never authorized the operation.
Editorial: Venezuela oil deal may be a win, but it shouldn’t set a precedent
Eight months ago, American aircraft launched from 20 bases as a special operations team entered Caracas and removed Venezuelan President Nicolás Maduro from a fortified compound. Dozens of Venezuelan and Cuban personnel were killed. Congress never authorized the operation. On…
Venezuelan Lawmakers Say 25-Year Energy Deal with US Harms Caracas
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Total News Sources30
Leaning Left4Leaning Right0Center25Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
14%
C 86%
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