Will The U.S.’ Big, New Venezuelan Oil Deal End Up A Dry Hole?
The venture gives North American Blue Energy Partners control of 17 oil fields and could draw about $100 billion in investment, officials said.
- On Friday, President Donald Trump announced a sweeping agreement with Venezuela granting the U.S. access to 65 billion barrels of oil across 17 fields to bolster long-term energy supplies.
- After major U.S. oil companies deemed Venezuela 'un-investable,' the Pentagon's Office of Strategic Capital took a 35% stake in North American Blue Energy Partners to facilitate the $100 billion project.
- Under the deal, the U.S. State Department secured rights to 20% of production 'at cost' and a right of first refusal on the remaining 80%, while Venezuela receives $19 per barrel in royalties.
- Venezuelan opposition leader Maria Corina Machado rejected the deal on Thursday, claiming interim President Delcy Rodriguez lacks legitimacy to sign away resources without democracy's return.
- Experts acknowledge the project requires years to yield results, as current U.S. refining capacity needs expansion to process heavy Venezuelan crude into usable gasoline, diesel, and jet fuel.
13 Articles
13 Articles
Jonah Goldberg: Americans should be concerned about the fine print on Trump's new oil deal
So, it was a war for oil after all. On social media Friday, President Trump announced that the United States and Venezuela have struck an agreement for “THE BIGGEST OIL DEAL IN WORLD HISTORY.”
Americans Should Be Concerned About the Fine Print on Trump’s New Oil
So, it was a war for oil after all.On social media Friday, President Trump announced that the United States and Venezuela have struck an agreement for “THE BIGGEST OIL DEAL IN WORLD HISTORY.”The whole thing is appalling, starting with the all-caps.I have no love for the Venezuelan regime, run by, in Trump’s words, “the Highly Respected Interim President” Delcy Rodriguez. But this is a “deal” that Rodriguez couldn’t refuse. We invaded her country…
Las Vegas Review-Journal
Grand Forks HeraldJONAH GOLDBERG: Americans should be concerned about the fine print on Trump’s new oil deal
So, it was a war for oil after all.
WHITE HOUSE VIDEO: VP highlights how the Trump Administration’s massive oil deal with Venezuela. 🇺🇸
A truly historic oil deal for the American people. @VP highlights how the Trump Administration’s massive oil deal with Venezuela will replenish our strategic petroleum reserves and oil market supply, lowering costs for Americans. 🇺🇸 source Source
ANALYSIS | Venezuelans of all stripes are denouncing Trump's 'biggest oil deal ever'
U.S. President Donald Trump's oil deal with interim Venezuelan President Delcy Rodriguez is being rejected by the Venezuelan opposition, and by some in her own party. Venezuelan Canadians, some with long careers in the oil industry, say the deal is illegitimate and will be repudiated.
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