Trump claims 'historic' oil deal with Venezuela

President Donald Trump announced what he termed a "Historic Transaction" with Venezuela, asserting it will grant the U.S. majority control over more than 65 billion barrels of the country's proven oil reserves. Trump posted on social media that this deal "MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans." The announcement comes after recent pressure on the administration to reduce domestic gas prices. Secretary of State Marco Rubio echoed Trump's enthusiasm, calling the deal "a huge win for both the American and Venezuelan people." While specific details have not been released, Rubio projected that the agreement would bring nearly $100 billion in private investment to Venezuela, support thousands of jobs, and drive the nation's economic reconstruction. According to Trump's social media post, Secretary of State Rubio and Defense Secretary Pete Hegseth reached the agreement with Venezuela's interim president, Delcy Rodriguez, through a partnership with private business. Trump did not elaborate on the nature of this partnership or any potential commitments and terms for the U.S. He did, however, emphasize that the agreement was reached "at no cost to the American Taxpayer." Earlier this year, the U.S. arrested Venezuela's then-President Nicolás Maduro. Trump had previously vowed to tap into Venezuela's vast reserves, which are the largest in the world. Following Maduro's arrest, Trump stated his administration would manage Venezuela until a "safe, proper and judicious transition" could occur, asserting indefinite U.S. control over the sale of the country's oil.

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This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans.