Trump says US has entered deal with Venezuela to take control of 65 billion barrels of oil reserves
https://apnews.com/article/trump-venezuela-oil-reserves-eb0ed5a1e99602c21a7f690c3368020e
https://apnews.com/article/trump-venezuela-oil-reserves-eb0ed5a1e99602c21a7f690c3368020e
40 Comments
DaddleDew@lemmy.world · 85 pts · 2d
Venezuela is now a subservient resource colony for Trump's billionaire friends to exploit and pillage.
This is what they tried to do to Canada as well during the last trade negotiations.
The growing oligarchy in the US is a parasite that kills its host. It can only survive if it finds new hosts to infect.
Mihies@programming.dev · 3 pts · 2d
Chávez must be turning in his grave
credo@lemmy.world · 74 pts · 2d
Is that the deal where the US stops attacking fishermen, and Venezuela pays the ransom?
https://www.britannica.com/event/2025-US-Strikes-on-Venezuelan-Vessels
ShellMonkey@piefed.socdojo.com · 27 pts · 2d
Pretty much, if there had ever been so much as a joint on one of those boats Donnie would have been parading it around as justification
BrianTheeBiscuiteer@lemmy.world · 14 pts · 2d
Probably more like we get their oil and in return we won't depose their new puppet ruler.
Revolver1864@piefed.social · 3 pts · 1d
You should be focussing on deposing your own pedophile ruler buddy.
emmanuel_car@fedia.io · 3 pts · 1d
Don’t call me buddy, guy, I’m not your buddy.
liuther9@lemmy.world · 1 pts · 13h
He didn't call you his buddy
frustrated_phagocytosis@fedia.io · 33 pts · 2d
BRB gonna make a deal at the house down the street where I show up with a gun and they give my ownership and praise me for it daily
MummifiedClient5000@feddit.dk · 31 pts · 2d
"Deal"
finallymadeanaccount@lemmy.world · 24 pts · 1d
And by deal, he means kidnap the leader and steal the country's oil.
KulunkelBoom@lemmus.org · 19 pts · 1d
So he's stealing 65 billion barrels of oil from Venezuela. And he's probably threatening them with war and death if they don't "sign on".
IronBird@lemmy.world · 8 pts · 1d
not really, this "deal" covers fields that are untapped or in heavy disrepair. will take years of infrastructure buildoit to exploit and it's unlikely any serious capital will be rushing to do that, as historically when the US has done this to venezuela...after the admin switches hands they just nationalize that infrastructure and go back to business as usual.
this is just venezuela leadership telling trump and co. "sure...whatever, now leave us alone" in the hopes they'll fuck off get distracted by something else until being replaced by a sane actor shortly.
same as every other deal of supposed investment with the US, UK/South Korea etc. agree to some stupid figure in a half-assed promise for trump and co. to parade on headlines. then they forget you exist and fuck off
Hello_there@fedia.io · 17 pts · 2d
This seems like a much bigger deal than the news has portrayed. It seems like Trump feels like he can't do fun things (bomb Iran) because of the oil stockpile. So he is doing anything he can to try to show markets that he has oil so he can get back to doing fun.
Consumption of US is 19.4 million barrels a day.
https://www.ceicdata.com/en/indicator/united-states/oil-consumption So 65 billion seems like a lot.
However, "The bulk of the country’s petroleum is made up of heavy, sour crude oil—a dark, gloopy, acidic substance that is both high in sulfur and relatively difficult to recover. This type of crude oil is very useful in asphalt production, but it needs to undergo a longer refining process to be made into more lucrative products, such as gasoline and other fuels, compared with lighter crude oil" https://www.britannica.com/science/How-Much-Oil-Does-Venezuela-Have-and-How-Much-Is-Accessible
If our processes are set up to process one type of oil, can we even switch to another type? How many refineries can do it? How much is wasted in the process and what is the rate? This seems like everything trump does: effective on a first glance but the moment you start thinking or asking questions it falls apart
justOnePersistentKbinPlease@fedia.io · 16 pts · 2d
Actually, most US refineries are set up to refine that heavy goop. It is not dissimilar to Alberta's tar sands product (bitumen). And most US oil comes from Canada.
Him getting this oil is a piece of leverage against Canada and trying to remove a card from Canada's deck against him taking our country.
redsand@infosec.pub · 6 pts · 2d
And it has the subtle weakness of a tanker and port bottleneck
justOnePersistentKbinPlease@fedia.io · 5 pts · 2d
Also, as CBC pointed out this morning, this is basically the same annoucement he did when the US first took Venezeula.
Since then, apparently none of the oil companies have moved into Venezeula, so this might be an attempt to get any traction there.
uzername@lemmy.world · 2 pts · 2d
"Venezuela's oil exports fell slightly to 1.16 million barrels per day in July from 1.2 million bpd the previous month as the country drained fewer inventories, but exports to the U.S. jumped to some 786,000 bpd, the highest since early 2019, shipping data showed on Monday." https://www.reuters.com/business/energy/venezuelas-oil-exports-fell-slightly-july-cargoes-us-rose-2026-08-03
justOnePersistentKbinPlease@fedia.io · 1 pts · 1d
No new projects are shovel in dirt.
Lots of promises and deals in thr making with Venezeula
Redvenom@retrolemmy.com · 16 pts · 1d
Does He still have Maduro kidnapped somewhere?
Witchfire@lemmy.world · 6 pts · 1d
He's at Rikers last I heard
CharlesDarwin@lemmy.world · 15 pts · 1d
LOL, "deal".
njm1314@lemmy.world · 15 pts · 1d
Considering how little we teach the Banana Republic era in schools I wonder how few Americans recognize what's going on here. How many of them know about the American conquest of Haiti or the Dominican Republic or any of the other dozen countries America conquered and pillaged.
itisileclerk@lemmy.world · 14 pts · 1d
Fucking USA!!!!! They just steal whatever they want. They are World's enemy No. 1.
mossberg590@lemmy.world · 12 pts · 1d
Venezuela has twice nationalized the oil infrastructure, 1976 and 1999. Meaning they kicked out the foreign companies that invested and built infrastructure. This is why Trump couldn't find any companies willing to do it a third time. So now it seems the US is gaurantieeng the security with this "lease". This is a scary prospect all the way around.
AviAdi@lemmy.world · 12 pts · 1d
New forever war started
UnLocoPoco@lemmy.world · 11 pts · 1d
Kidnapping a country's leader and then capturing the oil refineries and oil fields is NOT the definition of a "deal" 🙂
resipsaloquitur@lemmy.cafe · 10 pts · 2d
“Control” meaning steal?
I_Fart_Glitter@lemmy.world · 8 pts · 2d
AviAdi@lemmy.world · 7 pts · 2d
green_goglin@thelemmy.club · 1 pts · 6h
As always, Dookie Donnie starts the week with an empty gesture manufactured solely for PR optics newswire spam to juice capital markets.
MonkeMischief@lemmy.today · 5 pts · 16h
febra@lemmy.world · 5 pts · 7h
So when I rob someone at gunpoint I can just say they have entered a deal with me to give me their stuff and maybe I'll throw them back a penny.
Bakkoda@lemmy.world · 3 pts · 1d
We made a deal with ourselves basically?
Akasazh@lemmy.world · 3 pts · 2d
Has Venezuela entered the deal too, or is it unilateral?
::: spoiler spoiler
The question is rhetorical
:::
Hiro8811@lemmy.world · 2 pts · 2d
Aha, let me guess, only place to get that fuel is trump's gas station?
weps@lemmy.world · 1 pts · 4h
can we please have confirmation from the side of Venezuela? not much has been true of what Trump says
ironpangolin29@lemmy.ca · 1 pts · 1d
Doesn't refining sour crude result in higher gasoline prices?
anon_8675309@lemmy.world · 6 pts · 1d
Trump doesn’t know there are types of oil. But that’s okay, MAGA don’t either so he looks to them like a genius.
Earthwormjim91@lemmy.world · 2 pts · 1d
No?
Sour crude is what the US refineries are set up for. It’s why we export the sweet crude we actually produce and import sour.
Almost all of what goes through the Strait of Hormuz is sour crude. 80% of the crude market is sour crude.
The US is almost unique in that we are the major sweet crude producer, but our refineries are set up for sour crude.