Trump Seeks Vast U.S. Stake in Venezuelan Oil Industry

“The Trump administration is negotiating a long-term stake in a vast share of Venezuela’s oil fields, according to three people close to the discussions, a costly and legally precarious proposal that aims to nudge reluctant energy companies to drill in the risky region,” the Washington Post reports.

“The contours of the plan, which is still evolving and could change or fall apart, would involve the United States taking more direct control over Venezuelan reserves as crime and steep logistical challenges discourage private investors.”

“Under terms being discussed, the U.S. would acquire long-term contracts for a third of Venezuelan oil reserves, creating access to roughly 90 billion barrels of crude.”