Trump’s historic oil deal with Venezuela realigns global energy and puts OPEC, Canada on notice
The president said the deal, which will be overseen by War Secretary Pete Hegseth and Secretary of State Marco Rubio, secures majority U.S. control of more than 65 billion barrels of oil reserves in Venezuela.
Plataformas petrolíferas en Cabimas, al sur del lago de Maracaibo, estado Zulia, Venezuela.
President Donald Trump's historic deal to secure rights to 65 billion barrels of Venezuelan oil not only doubles America's energy reserves but also puts pressure on OPEC and Canada in the race for energy supremacy.
Trump announced the deal Friday night, saying it would not cost American taxpayers any money, and experts immediately predicted the move substantially realigns global energy in the favor of the United States.
"What I think you're seeing is really, truly a long-term vision for how our country, the United States of America, wants to be the leader in the oil markets -- American energy dominance. And this means getting out of this OPEC cartel. It means trying to free the world from the the craziness in the Middle East," said Sam Romain, the chairman of Americans for Energy Dominance.
Romain said Trump's announcement also exposed the silliness of a recent threat by Canada to stop sending crude oil to the United States over a trade dispute.
"Here's how this trade works with Canada: they don't have any refining capacity. They don't have a strategic oil reserve," he said. "They pull out of the ground a very thick, heavy crude oil, and we in the United States we have a very light suite, and we have to mix that together, blend it together.
"So they send 4 million barrels per day, but what they get in return is gasoline. And so if they want to shut down the crude pipeline, fine, go ahead. But you're not going to get any gas, and so it's it's a paper tiger," he added.
Trump said the deal, which will be overseen by War Secretary Pete Hegseth and Secretary of State Marco Rubio, secures majority U.S. control of more than 65 billion barrels of oil reserves in Venezuela.
"This Historic Transaction more than doubles American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity," Trump posted on Truth Social.
"This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States," he continued. "Thank you for your attention to this groundbreaking matter."
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