Trump Announces Venezuela Oil Deal
Trump says a deal with Venezuela gives the U.S. control of 65 billion barrels of oil.
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Updated Aug 28, 8:40pm ETBoth sides, every morning
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The reporting
President Donald Trump announced Aug. 28 that the United States had reached an agreement with Venezuela giving the U.S. majority control of more than 65 billion barrels of proven Venezuelan oil reserves. Trump said Secretary of State Marco Rubio and Pete Hegseth negotiated the deal with interim President Delcy Rodríguez through private business partners. He said the transaction would cost taxpayers nothing and would more than double U.S. oil reserves while expanding supply. The terms were not disclosed, and Venezuelan opposition figures and U.S. critics challenged the plan.
Analysis & opinion
Predatory takeoverMostly Left
The U.S. claim on Venezuelan oil is an illegitimate power grab dressed up as policy. It exploits Venezuela’s resources for Trump-aligned interests rather than serving Venezuelans, Americans, or the public good.
Strategic oil victoryMostly Right
The Venezuela oil deal is a major win for the United States and for market-oriented influence in the region. American involvement can secure valuable energy resources while helping rebuild Venezuela’s collapsed oil sector after Maduro.
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