Trump Administration Secures U.S. Military Stake in Venezuelan Oil to Bolster Energy Security
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The Trump administration has taken decisive action by partnering with North American Blue Energy Partners, giving the Pentagon a 35% stake in Venezuelan oil fields. This bold move strengthens U.S. energy independence and counters foreign adversaries, despite opposition from left-wing lawmakers.
The White House announced Monday a strategic joint venture with North American Blue Energy Partners (NABEP) to develop 17 oil fields in Venezuela, granting the Pentagon’s Office of Strategic Capital a robust 35% ownership share. These fields, holding an estimated 65 billion barrels of proven reserves, will be operated by NABEP, led by Venezuelan businessman Alejandro Betancourt, now the country’s second-largest oil operator after Chevron. This partnership marks a major win for American energy security and global influence.
Acting Venezuelan President Delcy Rodríguez authorized a 100-year lease for the fields, many of which were previously under the control of hostile Russian or Chinese firms. With this agreement, the U.S. government secures the right to purchase 20% of the oil output at cost through the State Department, and the Pentagon will have veto power over board appointments, most of whom will be U.S. citizens—ensuring American oversight and accountability.
Betancourt praised the partnership as a way to unlock Venezuela’s vast natural resources and foster prosperity for both nations. His company, employing over 5,000 staff and contractors, will invest $100 billion in new oil-infrastructure projects, demonstrating the power of free enterprise and American-led development. The deal was signed by Defense Secretary Pete Hegseth and Secretary of State Marco Rubio, both champions of American interests abroad.
Despite the clear benefits, critics—mainly from the left and entrenched bureaucrats—warned of political risks and the time required to revitalize Venezuela’s oil sector. Some former energy advisers and members of Congress questioned the use of military resources for a private venture, demanding legal justifications. Rep. Rick Crawford and Sen. Jack Reed, the latter calling the arrangement an “abuse of power and taxpayer dollars,” have voiced their opposition, putting politics above American energy needs.
President Trump acknowledged that any impact on U.S. gasoline prices would take time, suggesting a two-year horizon for benefits. He emphasized that the agreement would help replenish strategic petroleum reserves and provide heavy oil for essential products like asphalt, reinforcing America’s infrastructure and security.
This announcement comes ahead of a high-level meeting with oil refiners and senior officials, including Interior Secretary Doug Burgum and Energy Secretary Chris Wright, to discuss expanding refining capacity. As fuel prices rise due to the conflict in Iran, the administration is taking proactive steps to ensure American families and businesses are protected from foreign threats and energy shortages.