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Posted on 09/02/2026 5:43:15 AM PDT by Redmen4ever
The oil agreement is a foundation, not a finish line but it is a hopeful moment of progress
(Excerpt) Read more at foxnews.com ...
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https://careers.chevron.com/venezuela
Nicholas Maduro and his predecessor Hugo Chavez killed the goose that laid the golden egg and, in the process, turned Venezuela into a low-income country (whether or not the World Bank reclassified it as such). Getting some revenue from oil production, like Alaska does, can fund more generous social insurance programs while keeping taxes low; but, trying to get more revenue will not only bankrupt the country, it will undermine the incentive to work. Were Venezuela to recognize the limits involved in extracting wealth, it could restore its former economic health and lay the foundation for continuous economic growth.
It doesn't take a government to hand someone a sandwich.
Always better to get government out of the charity business.
I'm still wondering if Venezuela will go back to its commie ways once Trump leaves office.
The money will end up in the hands of Americans and politically connected Venezuelans.
Strike while the iron is hot. The people are ready and everyone can remember and be reminded early and often what it was like under the communists. Marco is the perfect messenger. There will be resentment reactions by disaffected groups who need reminding they needed cuban mercenaries to keep order. Those in poverty will need to be kept in line as resentment among those will always be tapped into.
My construction Project Management instructor back in about 1963, just returned from Venezuela where he worked several years for ESSO, I believe, developing the Orinoco oil fields.
The Trump actions are in final effect reverting to the status quo ante whereby American companies are regaining control over all the production
They better do it soon, because the window is closing fast.
American dominance in South America is not too popular. Poverty feeds that resentment. Since capitalism lifts more people out of it than the others it will take benevolent leaders who look out for people other than themselves. Problem is the corruption that’s part of the human condition, especially down there.
Huh? Could have sworn the democommies told he’s “taking” the oil. Could they be lying? 😂
This is the reason that the Trump team put the US government in control of the oil development
Of course there will be corruption in the future, but at least it will be our corruption
Excellent article. But 100 percent written by ChatGPT.
What they need is a contingent of Chicago Boys to do what they did in Chile. Unfortunately they needed a Pinochet to cover their backs. Venezuela has much more potential thanks to the oil.
Not likely to see Kissinger on the Peso anytime soon.
Hi Dirty,
Do you a theory why right-of-center candidates have been winning lately in Latin American when, you say, the Latin Americans don’t like us?
The money will end up in the hands of Americans and politically connected Venezuelans.
/////
not at first at least.
rubio well knows the history of american imperialism in south and central america. and as a cuban american he knows its sting. he’s not going to play that game
This also puts direct pressure on the Canadians.
Who use their Alberta oil as a bargaining chip on other trade negotiations.
This Venezuela heavy sulfur crude can directly replace the same type of crude we buy from Alberta.
Up until now we NEEDED the Canadian oil.
With this deal we still need the Canadian oil, but not as much.
Our gulf coast refineries are the best in the world at converting heavy sulfur crude into distillints. Such as Diesel. Which is/was the reason for Keystone II.
If we import the Venezuela oil, we export diesel back to them and other Caribbean/South American customers.
The other MAJOR win is it takes another source of cheap crude away from (SAY IT) CHIIIINNNNAA. With Iran oil out of export, the Chinese are now stuck buying it from Russia and other OPEC sources at the market prices. The only discount they are now getting on crude is from VLAD.
As it has for the last 70 years.
This will work as long as Venezuelans know that the deal truly, and equally, makes both parties better off. We will have to be diligent to explain this to the world because the commies will be quick to lie about the benefits.
The Trump guys are great at working problems at a multitude of levels
“The money will end up in the hands of Americans and politically connected Venezuelans.”
Yep, as is tradition
—”Strike while the iron is hot.”
Not so fast!
The U.S.–Venezuela oil deal focuses on the FUTURE development and reconstruction of 17 fields rather than immediate output from active, working wells. A pie in the sky long term “DEAL.”
That sets up the US TAX PAYERS, to cover the losses.
More like a hot air push to drive down oil prices before the elections.
N.B. Reuters: Donald Trump and Venezuelan interim authorities bypassed any open bidding. “The agreement ... was formally announced, bypassing any competitive public bidding process while handing over the management and development of 65 billion barrels of recoverable crude oil.”
“Instead of an open contest, the deal was directly entrusted to North American Blue Energy Partners (NABEP), a private company led by Venezuelan businessman Alejandro Betancourt”
“As detailed by Fox Business, Alejandro Betancourt López, 46, is the CEO of North American Blue Energy Partners (NABEP), Venezuela’s second-largest private oil producer. He has faced international scrutiny and investigations regarding alleged money laundering and fraud in Europe and the U.S., though he denies wrongdoing and has never been formally charged with a crime.”
Such a deal!
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