US and Venezuela Reach Oil Deal

President Trump announced on Friday that the US has struck a deal with Venezuela to take control of oil fields with 65 billion barrels of reserves. The deal is expected to vastly increase US energy security and dominance in the Western Hemisphere. According to a source familiar with the arrangement, it is a type of public-private partnership between the US, private companies, and Venezuela. The US would have access to a guaranteed amount of crude oil, known as off-take oil, which would be exchanged at cost.

The details of the deal have yet to be released, but Secretary of State Marco Rubio, who spearheaded negotiations with Venezuela's interim president, Delcy Rodriguez, called it a huge win for both the American and Venezuelan people. Rodriguez confirmed the deal in a public statement, saying it would bring nearly $100 billion in private investment and support thousands of high-paying jobs in Venezuela. The deal is expected to generate $209 billion in additional tax revenue for Venezuela.

The unique arrangement would be overseen by the Pentagon's Office of Strategic Capital, which helps finance efforts that further US national defense. While administration officials initially disagreed on whether the deal had been finalized, they later confirmed that it was a done deal, with more details to be worked out.