The Trump administration announced an agreement with the Venezuelan government on Friday to develop a vast amount of Venezuela’s oil reserves.

The U.S. government says it is entering into a joint venture with a private Venezuelan company, according to an official who spoke to NPR on the condition of anonymity because they are not authorized to speak publicly about the deal. The Trump administration says the U.S. would get 55% of the oil from the joint venture. That’s equivalent to about 65 billion barrels of oil that’s under the ground.

On Truth Social, President Trump called it the “biggest oil deal in the world.” But energy experts say there are many reasons to be skeptical.

  • dhorkEnglish
    14·
    21 hours ago

    “We have no government-owned operational capability per se in the oil and gas sector,” says Gerald Kepes, president of Competitive Energy Strategies, an energy consultancy in Washington, D.C. “The question is, who’s going to operate on the ground?”

    I bet it’s hidden behind a bunch of shell companies which obfuscates that whatever entity is involved on the US side is already owned by Trump and/or Kushner, and designed to siphon all the profit away and leave the government with the bill.