President Trump Secures Historic Oil Deal with Venezuela to Access Massive Energy Reserves at No Cost to Taxpayers
The administration announced a sweeping agreement with Venezuela to secure long-term access to the country's massive oil reserves, which are the largest proven reserves in the world. President Trump stated that the deal, negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, would provide the United States with 55% effective output of a new private company formed to develop 17 strategic oil fields. This historic transaction is expected to draw over $100 billion in private investment into Venezuela and yield more than $209 billion in taxes for the country. The administration announced that the U.S. would retain direct governance over these sovereign resources, granting a 100-year concession to a private operator. While the administration announced the deal as a major win for energy security and lower gas prices, some critics have labeled the move as a "predatory" land grab. The agreement follows the capture of former President Nicolás Maduro by U.S. special forces, allowing the administration to steer the country's transition toward a more stable, private-sector-led economy.