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President Trump revealed on Truth Social last Friday that the United States has secured over 65 billion barrels of oil from Venezuela in what Trump called “THE BIGGEST OIL DEAL IN WORLD HISTORY.”
At Trump’s request, Secretary of State Marco Rubio and Secretary of War Pete Hegseth finalized a deal with Venezuela’s interim President Delcy Rodriguez. Trump stated that this deal “MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future.”
According to the White House, this deal will not cost the U.S. taxpayers anything, and it is expected to draw $100 billion in foreign investments and $209 billion in tax revenues to Venezuela over the length of the deal.
The deal gives the U.S. a 55% majority stake in a private joint venture, with the remainder being held by Venezuela. Seventeen formerly state-owned oil fields now fall under a 100-year concession agreement and will be operated by American companies.
For the 27% increase in gas prices this year from last, Americans getting hit with $4.09 per gallon at the pump, this deal is expected to give some much appreciated downward price pressure on gas.
The U.S. has openly adopted America First policy in grander strategic thinking. Under Operation Epic Fury, over the restriction of the Strait of Hormuz, the U.S. Strategic Petroleum Reserve is at a forty year low. Supply routes from the Middle East are up in the air. Therefore, when looking for long-term alternative sources in the Western Hemisphere, Washington has no choice but to use Venezuela. Venezuela has the largest available oil reserves in the world, and now Washington can operate there without restrictions imposed by China.
Here’s an interesting surprise. According to informed circles, Caracas is talking to Washington and considering leaving OPEC. Leaving OPEC would have a great deal of symbolism, as Venezuela was one of the founders of the organization in 1960. Such a departure would aid in the construction of an energy alliance more favorable to the U.S., and give said country much more latitude in influencing global oil pricing outside of the OPEC regime.
The deal poses the hard questions official Washington likes to skirt. Since Maduro’s removal in January, the U.S. has brought over $13 billion back from Venezuelan oil exports, and the Council on Foreign Relations states there is no public measurement for where the money was allocated. In July, Trump told reporters, “we’ve paid for that war many times over.” In the process, the Venezuelan people watch American companies take over their natural resources under a regime that is “a puppet of Washington interests,” as ZeroHedge described it.
Whether this is American energy dominance or hemispheric resource extraction is based on opinion. There is no debate that this is the largest energy deal in history and it cuts off Venezuela from China. The deal is currently being finalized.
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