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Venezuela Oil Deal May Be a Win, but It Shouldn’t Set a Precedent

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.

12 days ago

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