The administration seeks a direct stake in Venezuela's massive oil and gas reserves through a long-term lease agreement.
The administration announced plans to secure long-term access to Venezuela's vast energy reserves, potentially securing a direct stake in more than a dozen oilfields containing 90 billion barrels. These fields, located in the Orinoco Belt and Lake Maracaibo regions, represent nearly a third of Venezuela's total energy reserves. Negotiations are currently in advanced stages with Venezuelan officials. One proposed deal includes a 100-year lease on several oilfields. While the administration views this as a massive opportunity to secure US dominance over the Venezuelan resources, critics and opposition figures have labeled the move a "predatory" and "unconstitutional" land grab. Some observers note that the deal allows the user to draw from the Venezuelan reserves as if they were their own, effectively excluding other global powers like China and Russia. The move is a key component of the administration's strategy to reassert US influence over Latin America through economic and military pressure.