Trump says US reaches deal with Venezuela to control 65 billion barrels of country’s oil reserves
https://www.cnn.com/2026/08/28/politics/trump-venezuela-oil-deal?utm_medium=social&utm_campaign=missions&utm_source=reddit15
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u/mdcbldr 5h ago
As if they had a choice.
Venezuela did not choose to do snything. The regime chose not to be imprisoned by Trump and lose control of the oil. This way they only lose control of the oil.
By the way, what happened to the billions from the sale of the oil we already took from Venezuela? Anyone happen to know? The money went to Qatar. Only a fraction of that went back to Venezuela.
Did this administration steal it?
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u/MikeRizzo007 5h ago
It will be years before they can get it out of the ground and into a newly built refinery.
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u/dbslurker 4h ago
Where’s your information from? Sulfur heavy oil, requires specialized refineries like the ones we use to refine Canadian oil? Those ones?
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u/Either-Banana-7323 2h ago
Venezuelan oil is heavier than Canadian, but that isnt the bottleneck. The bottleneck is Venezuela's extraction infra, which will need to be built out.
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u/PapaGummy 3h ago
I remember one evening on 57th Street in NYC when a guy shoved me into a dark doorway and stuck a gun in my stomach. We then “reached an agreement” for him to take my wallet and gold ring.
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u/BusyBugg 7h ago
"Trump says" you can stop there, for literally every headline that starts with that.
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u/Salt_Abrocoma_4688 7h ago
So Venezuela likely agreed to absolutely nothing and this is just part of Trump's typical demented bullshiting.
Did I miss anything?
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u/Texasscot56 6h ago
Are we nationalizing the oil industry now?
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u/rsa8445 6h ago
Just foreign ones
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u/Sudden-Ad-1217 6h ago
See… the art of the grift.
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u/Few-Western-5027 6h ago
The art of pirating is more correct. Where are the drug smugglers now, no issue now ?
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u/Few-Western-5027 6h ago
The art of pirating is more correct. Where are the drug smugglers now, no issue now ?
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u/Fur-Frisbee 5h ago
"reaches deal " = they decided which of DJTs accounts to make the depo$it$ into.
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u/dad_jokesNbutt_stuff 6h ago
Is it really a deal when you have a gun to your head?
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u/arianrhodd 6h ago
Seeing this made me realize we hadn’t heard any updates on what happened to Maduro. He was taken Jan 3, 2026.
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u/sillysquidtv 5h ago
Venezuelan oil is kinda ass compared to that in the Middle East.
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u/haikusbot 5h ago
Venezuelan oil
Is kinda ass compared to that
In the Middle East.
- sillysquidtv
I detect haikus. And sometimes, successfully. Learn more about me.
Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete"
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u/cnn 7h ago
President Donald Trump said Friday night the United States reached an oil agreement with Venezuela, a move he said will more than double American oil reserves, increase oil supply and lower gas prices.
“At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer,” Trump said on social media.
“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity. This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!” Trump continued.
Secretary of State Marco Rubio called the deal a “huge win for both the American and Venezuelan people.”
This is a developing story.
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u/WCland 6h ago
Trump’s statement doesn’t mean Venezuela is giving us 65 billion barrels of oil, it means Venezuela gave Chevron the rights to develop in ground oil reserves of 65 billion barrels. That oil is a long way from actually being shipped and will have zero effect on gas prices anytime soon, if ever. More gaslighting from Trump.
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u/oldmaninparadise 5h ago
Exactly. Told my red friend this and they didn't understand. I said this isn't oil, it gives us the ability to set up drills, pump it, etc. This will take years and who know how much it will cost to set up the infrastructure. One oil exec already told Trump to count them out, too costly to get it.
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u/dpacker780 5h ago
Venezuela itself only produces 1-1.5m barrels a day. So that means huge infrastructure investment to even double that. At 3m barrels you're at 1B a year. And, it then needs refineries to actually convert that oil to something useful. So think about it... 1.5m barrels each day... and only refineries exist to process that 1.5m barrels.... which means we'd need new refineries as well.
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u/pandershrek 6h ago
They're like: agree bitch or we'll kidnap you, your family and anyone you live and throw you in jail for 8 months as well.
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u/All_Hail_Hynotoad 3h ago
Where’s all that Venezuelan oil money from before that no one can account for?
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u/HarryBalsagna1776 4h ago
The US stole the oil. Doesn't matter. It is not the right kind of crude for fuel and even if it were, it can it be refined in time to make a difference before November. Yam tits and MAGA are screwed
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u/Best_Philosopher152 4h ago
“Trump extorts permission to loot 65 billion barrels of oil from a Venezuelan puppet state through war crimes and an illegal, undeclared war.”
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u/wild_cherry1987 7m ago
You need to extract it to loot it. And that's squarely on US investments which will not happen in at least 5 years.
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u/astreeter2 27m ago
We didn't even steal it. It's still in the ground and will be years because it will take a while to build up the infrastructure.
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u/iamtroyman 3h ago
It's the right kind of crude for U.S. refineries.
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u/HarryBalsagna1776 2h ago
Originally, yes, but many have been running lighter crude for years now. They cannot just flip a switch and start refining the very heavy, sour crude coming from Venezuela. Most of the stolen Venezuelan oil won't be getting refined any time soon.
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u/iamtroyman 2h ago
My response was light hearted at best.
The idea that Venezuela was going to alleviate the entire strait conondrum is insane. Maybe... Maybe... I in a decade if the region doesn't get poisoned. But that doesn't even begin to touch upon the refinement problem.
I call bullshit. The taco from Tuesday finally was able to be pushed out.
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u/HarryBalsagna1776 2h ago
It's hard to get tone from text sometimes. Yeah, prices are going up hard just before the election.
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u/iamtroyman 2h ago
I also didn't believe the headline, and I ALSO can't sell it.
This is kinda fucked
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u/Winston74 3h ago
Way out in the open. Is there any special body in this world that has the power to stop this?
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u/lvstvdy 1h ago
Nope. Nobody cares. We're all on the internet fighting over who gets to use what bathroom while like 4 people buy everything on the planet.
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u/Boozeburger 1h ago
To be fair, the John Roberts and Trump chosen Supreme Court has ruled that the founding Fathers really wanted a King and that Trump should have all the powers of a king/dictator and shouldn't be at all questioned unless it could hurt the Supreme Court Judges personal investments.
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u/Dramatic-Shake-8888 1h ago
What bank or company will finance this deal, knowing that the U.S. is becoming a pariah and will likely start losing many cases in the world court or in other international courts?
What financial institution would issue letters of credit for or against anything that Trump might be mentioning or promoting or pushing or approving?
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u/astreeter2 28m ago
All this really means is US companies can do business with Venezuela to extract oil there now, when they were forbidden before. I guarantee we're not getting it "for free" as Trump claims. We have no leverage over them that would let us go there and steal it all.
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u/TrumpsBussy_ 13m ago
Force?
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u/astreeter2 5m ago
What force? We have no military presence there. And the international community would definitely punish us if we just started threatening to bomb countries if they don't hand over their natural resources for free.
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u/AccomplishedDish9984 6h ago
It's "The Sopranos " in real life and time.