U.S. Government Secures Major Oil Deal with Venezuela, Raising Questions on Fuel Prices and Long-Term Impact
President Trump has announced an agreement with Venezuela, which he described as the 'biggest oil deal in world history.' This deal involves Venezuela's interim president, Delcy Rodríguez, granting 100-year concessions to develop 17 oil fields to a joint venture between the U.S. government and North American Blue Energy Partners. These fields are estimated to hold 65 billion barrels of oil. The Pentagon’s Office of Strategic Capital will take a 35% equity stake in North American Blue Energy Partners. Under the agreement, the U.S. government is guaranteed 20% of oil off-take at cost and has the right of first refusal to purchase the remaining 80%. Additionally, a majority of North American Blue Energy Partners’ board members must be U.S. citizens, and the U.S. government holds veto power over the board of directors. The Trump administration claims this agreement will double U.S. oil reserves and reduce fuel prices for American consumers, a move partly aimed at addressing voter concerns about affordability a... 
