On Friday, Just the News posted an article about an oil deal with Venezuela that impacts the global energy market in a major way. I have no illusions that Venezuela has become a thriving democracy, but I do believe that the Trump administration has enough leverage over the current leadership of the country to move the country slowly toward freedom.
The article reports:
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.
The article concludes:
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.”
American Oil Reserves were depleted during the Biden administration in an effort to keep gasoline prices down before the election. There has been some question as to the condition of the storage facilities and our ability to refill them. I am looking forward to getting back to lower gasoline prices at the pump!