Oil & gasoline

US Strikes Deal to Control 65B Barrels of Venezuelan Oil

Is this a landmark energy victory or an overhyped midterm PR stunt?

Published 3 days ago

US Strikes Deal to Control 65B Barrels of Venezuelan Oil

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Above: Donald Trump at a campaign rally in Myrtle Beach, South Carolina, on Aug. 21. Image credit: Win McNamee/Getty Images

The Spin

Pro-Trump narrative

Trump secured the biggest oil deal in world history of all-time at zero cost to taxpayers, more than doubling American reserves. His bold, hemisphere-first energy strategy delivers real results — more supply means lower gas prices for years. Add in nearly $100 billion in private investment and thousands of jobs for Venezuela, and this deal is a landmark achievement.

Marco Rubio on X

Delcy Rodríguez on X

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Anti-Trump narrative

Venezuela's oil is extra-heavy, sulfur-laden crude that costs a fortune to refine — steam injection, blending with lighter oil and sulfur removal all drive lifting costs through the roof. Calling this a reserve windfall glosses over the massive technical and financial hurdles standing between that oil and American gas pumps. This looks far more like a midterm PR stunt than a genuine energy policy victory.

Wallis Marsh on X

Lauren Werner on X

Cynical narrative

What was sold as an oil deal with Venezuela now looks like something darker: Trump had Nicolás Maduro captured and told everyone this was all about liberating the country so free and fair elections could be held. Instead, much of the Maduro regime remained in power, while Venezuela's natural resources were opened to outside interests. It's clear the real prize was always the oil. History shows how powerful nations can exploit weaker countries for profit.

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Aaron Rupar on X