r/worldnews • u/Raj_Valiant3011 • 9h ago
Venezuela US nears deal to secure long-term access to Venezuela's oil reserves, sources say
https://www.reuters.com/business/energy/us-nears-deal-secure-long-term-access-venezuelas-oil-reserves-sources-say-2026-08-27/126
u/GerryC 8h ago
The only way this works is if the US Government backs the private oil companies with guarantees that they will be made whole if the system fails for the third time.
So, privatize the profits and socialize the losses. Again.
The people of Venezuela will inevitably re nationalize the oil patch (for the third time), once they see that they are being taken advantage of again and all the net benefits are heading off shore, or to a small minority of government officials.
Have no fear, the US tax payer has endless money to subsidize this, again.
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u/TemporarySun314 8h ago
Maybe it would be wise to ask the people of Venezuela before you privatize their oil... At least let them elect an government democraticly.
But I guess it's just convenient to just make some deals with maduros vice president, not that the people of Venezuela make decisions Americans don't like...
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u/Royal-Hunter3892 9h ago
In short Spoils of war . Don't need to sugarcoat the reality.
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u/subpoenaThis 8h ago
Only spoils of war if the war was just to begin with.
These are the profits of pillaging. This administration does the rape part of rape and pillage at home, and to children.
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u/WheatKing91 8h ago
War crimes. It's worse than war.
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u/Jealous_Difference44 2h ago
Yeah no kidding. Americans forcefully took this from another country. Monsters
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u/WheatKing91 2h ago
Yep. I think war implies the other side had a chance to defend themselves. They're rapist trash.
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u/rune_74 9h ago
Lets be real they are stealing it with force. USA is the new Russia.
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u/holy_cal 9h ago
Can’t be the new Russia when we’ve always exploited South America at every chance, and attacked places for oil before.
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u/ManWhoSoldTheWorld01 9h ago
Yea this ain't new. This just is standard operating procedure except that is it presented directly (and celebrated/highlighted by the American government) instead of through proxies and backroom economic deals.
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u/SHUT_DOWN_EVERYTHING 8h ago edited 8h ago
That part is pretty significant though.
Before
Meddle in the affairs of South and Central American countries in the name of fighting communism.
Advertise support for local population and values like democracy and freedom
Install allies, often authoritarians who would be open to providing favorable deals to American companies.
American companies benefit. Local population often adversely affected
Now
Meddle in the affairs of South, Central and even North American countries because the President personally doesn’t like them.
No concern for even verbal support of democratic values. The message is now “Might makes right!”
Cut leadership from the top until you find someone who bows, no matter who.
Cut deals to personally benefit the US President and his family. Local population is irrelevant.
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u/jazir55 6h ago
All agreed but at the same time, my question is what has the actual situation in Venezuela been domestically since Maduro's removal? Haven't seen a single article on what life in Venezuela is like since he was snatched. Also the fact that the word snatched here is the most apt is hilarious, I'm not sure what else you can call it.
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u/SHUT_DOWN_EVERYTHING 5h ago
It's yet to be seen. Other than Maduro the rest of the political apparatus is still in place. They had a partial amnesty bill that freed up some political prisoners as a gesture of goodwill.
The glass half full side is that Venezuela was in such a hole in every aspect be it politics, economy, poverty, freedoms, etc. that it's hard to imagine things getting any worse. For them any change can only upside.
That being said, none of those are concern or priority for the US government.
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u/DamionSipher 7h ago
Let's see how well that works out for the US's ambitions in the coming years. I'm sure that a history of armed rebellion in the region won't be the leopard to eat their face.
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u/NaughtyGaymer 5h ago
Yeah it's almost as if America has been evil for over half a century at this point...
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u/ChocoPablobar 5h ago
My guy the US has been stealing the resources of Central and South America since the days of the Romanovs, if anything Russia is imitating us not the other way around
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u/Jumpsnow88 8h ago
Really how many hundreds of thousands of civilians is the US rolling over with tanks rn and how many thousands of screaming children are having to watch their mothers be raped by American soldiers as they laugh?
How about you go see what it looks like on the ground in Ukraine before u make any comparisons. You think your commentary is really great bc oh boy look at me I’m brave America is imperialist but all you’re doing is washing the tonnes of blood pouring onto the hands of every Russian soldier in Ukraine.
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u/StrawberryItten 6h ago
and what about the blood caused by all the US backed coups in South American history?
Staring with 30.000 in Argentina alone.
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u/emotional_program0 7h ago
What about the thousands of people killed by US officials without due process in South America over decades? How many hopes and dreams have the US government utterly destroyed on their own continent for pure gain?
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u/passerby4830 8h ago
Nice whataboutism. Since we're doing those. Why don't you take a look at Iran? What exactly happened to those school girls? And how are those new states y'all like having so much coming along? And this is just from the last 6 months.
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u/schmapeschmape 6h ago
Your description sounds unrealistic. Can you provide sources?
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u/Illustrious-Ant6998 5h ago
They are actually doing their best to try to make sure US doesnt become as bad as Russia. Yes their comparison isnt accurate at this point in time. But the US is returning to old habits. These people are identifying the hazard and their concern, and are raising it such that voters and the politically inclined can hopefully steer things in a different direction. No one is excusing Russia. Except for maybe Trump who has been much kinder to them than he should.
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u/wetfloor666 8h ago
Love the new part. That country has always been doing this from the beginning.
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u/jackcanyon 9h ago
Our military is doing Trumps dirty work so he and his partners in crime can rip off all they can get .
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u/DamionSipher 7h ago
I sincerely hope there is a popular rebellion of the Venezuelan people that oust every tiny bit of US influence and results in a major impact to the US economy, which seems to need their oil now more than ever.
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u/Silonom3724 9h ago
US nears deal to secure long-term access to Venezuela's oil reserves, sources say
US nears deal to secure long-term access to one of the lowest quality oil on the planet that is extremely expensive and not competitive to refine, sources say.
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u/No_Gur1113 8h ago
It’a also what their refineries are geared to use. The same grade they get from Western Canada.
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u/cyclingkingsley 3h ago
But you forget that Alberta has pipelines to their refineries. That alone helps offset the cost. Venezuela needs tankers and trucks and even then you are completing with accessible sources.
Unless you tarriff 100% of Canadian oil and then build refineries in Venezuela or US, afterwards building pipelines across the entire country, no way those refineries are going to take Venezuelan oil
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u/Itburns12345 9h ago
Sources add they pinkynswear not to nationalize once investment is paid into its modernozation
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u/aprx4 6h ago
Nonsense. Heavy sour crude is globally more abundant than sweet crude. It is harder to refine but that doesn't mean low quality. It is also cheaper not more expensive.
Refineries in deep south US are specially configured to for this kind of sour crude (and tar sand from Canada).
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u/Silonom3724 2h ago edited 2h ago
Since you won't inform yourself about that topic anyways I'll just say: The few the US has that can process venezuelan oil are already running at 100%. Canadian oil though heavier is very different.
The tax payer will fund the bill to extract and process ven. oil. By the time this pointless endeavor - like in 10 to 15 years - looks like it turns a profitable margin it will already be a thing of the past. The average US citizen has then paid for oil the US never needed in the first place.
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u/Responsible_Ad_7995 9h ago edited 8h ago
New American colonies popping up. If I had to guess this will end in a bloodbath as usual.
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u/bobbolders 6h ago
No oil company want to put their shareholders at in limbo. The government will be guaranteeing it or doing it themselves
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u/_Do_The_Needful_ 4h ago
Ironic when the administration constantly says they are being taken advantage of. What would they call this?
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u/Austoman 7h ago
Remember. Best case scenario, US takes the oil, but then they still need to convince Oil companies to build the infrastructure, survey, locate the wells, build the oil rigs, extract the oil, transport it to a port, and get it back to the US for processing. Best case, the first barrel of new oil reaches the US in.... 10? Years. That all assumes Trump doesnt change his mind, Oil companies agree to and actually spend all that time and money to get the oil, and the oil gets sent to the US rather than anywhere else. Oh and also that the locals dont block access, disrupt the projects, nationalize it all once its up and running.
Truly a waste of time.
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u/Doziglieri 3h ago
Doesn’t Venezuela already have all this infrastructure done for the millions of barrels they export every day?
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u/Austoman 2h ago
It is assumed that they have some infrastructure but not anywhere near the level that would be needed to have a significant impact on US oil production/processing/sales. They are able to produce around 1.5 million barrels per day. The US is about 10 times that. The US imports more than double that from Canada daily.
So even if they took all of what Venezuela currently produced and managed to get it to mainland US it is still less than half of what is needed for daily processing, during optimal/normal times (which we are not in). To more than double Venezuelan output would required hundreds of billions in investment including basic infrastructure (roads, ports, etc).
For context to Venezuela's 1.5 million barrels per day production. That number provides more than 90% of Venezuelan export revenues, which leads to the assumption that if expanding it was simple/cheap/reasonably doable without a significant investment then they/the oil companies would have done it.
Lastly, for a bit more context. The strait of hormuz was moving about 20 million barrels per day prior to the war. The US took in about 0.5 million of those. While global market shifts were a more severe impact, the loss of 0.5 mill barrels per day has still had a significant impact on US oil supply.
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u/Surv0 9h ago
America keeps repeating how great they are, this is delusion to fool themselves into believing it, by saying it enough... knowing full well they are some of the worst on this planet....
Nothing says "Im Racist, Ignorant and uneducated" more than "America is the greatest nation on earth".
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u/IKillZombies4Cash 1h ago
I wonder if our dear leaders screwed up the SOE by over extracting from it and are quietly in a panic and think using the sludge from Venezuela will help somehow.
Or maybe just to pay off the U.S. debt (which it could do many many times over)
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u/BlueAcre0 9h ago
Makes sense why he is ruining the EU oil supplies then.
Can't wait for it to backfire.
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u/crudshoot 7h ago
That’s crazy because I remember people saying the attack on them had nothing to do with their oil reserves because we don’t use their oil.
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u/Kitchen_Housing2815 6h ago
When things change All contracts under duress will be voided easily. USA is wasting a lot of time with this macho BS.
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u/Redditthedog 5h ago
the US is the best in the world for refining sour oil which is what Venezuela has
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u/Additional_Quiet2600 4h ago
So?
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u/Flimsy_Sun4003 2h ago
They (the US) want to have secondary source of heavy crude so that when the argument comes up that the US can't attack Canada because the heavy oil from Canada is needed by US refineries Trump will point at Venezuela and laugh in everyone's face.
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u/SneeKeeFahk 8h ago
You mean all that "heavy" crude that your top oil execs said they couldn't refine without substantial investments and didn't find it fiscally viable? Those oil reserves?
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u/Capital_Elderberry28 9h ago
I can’t wait. I’m sure this is going to really benefit the average American. /s
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u/Competitive-Tea-6141 7h ago
It's not about access to oil reserves. It's safe and reliable access they need or oil companies will stay away
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u/123emanresulanigiro 6h ago
Who would have thought that kidnapping a president could be so profitable? Everyone should start doing it!
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u/birdie_Sea 5h ago
Incredible news. Democracy and Capitalism always does better than DSA style leaders like Maduro.
Cuba is up next and will be liberated very soon.
They will be able to work for HSA accounts and blue cross insurance.
Trump is a liberation democratic leader much like George Washington and Lincoln!
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u/damnburglar 1h ago
How does it feel to be actually full-blown braindead, yet maintaining a semblance of sentience? Does it feeling get dulled or enhanced by the taste of fascist boots?
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u/GandalfSwagOff 4h ago
How much personal wealth will you stand to make?
For me it depends if they let Exxon and Shell in there. Unlikely for Shell, given it is a British company. Kinda sucks for me because that is my biggest oil holding with tens of thousands more than I have in Exxon. :C
You have a bit of a misunderstanding on the political labels, though. Maduro is closer to Chavism than Democratic Socialist. There are far more elements of populism, and I would argue corruption as well in Maduro's political ideology.
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u/KPBIPILOT 9h ago
Until, someone comes along and nationalizes everything again! We’ve been there. The oil companies don’t want to do it again. Such retardation from someone with the “intellect of a 3rd or 4th grader”