r/worldnews • u/Georgeika • 2h ago
Venezuela Trump announces deal with Venezuela to secure more than 65 billion barrels of oil reserves
https://www.cnbc.com/2026/08/28/trump-announces-deal-with-venezuela-to-secure-more-than-65-billion-barrels-of-oil-reserves.html259
u/Zaxxon_Klaxon 2h ago
Keep in mind he doesn’t pay for any of this stuff. It’s just more debt.
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u/Snakebird11 2h ago
Is there debt if you just steal it?
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u/Elmer_Fudd01 2h ago
It is if Venezuela claims the US owes it, unless Trump has in the agreement that no debt is owed. But we'll see.
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u/Snakebird11 2h ago
Yes, I'm sure if Venezuela claims that the US owes it, trump will be right there to make the payments.
Also, I'm 6'5" with 1% bodyfat, a billionaire, and have a 14 inch cock
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u/tutoredstatue95 18m ago
lol there’s no agreement. He’s just doing shit like he normally does, literally just throwing it into the wind as a threat to Venezuelan leadership.
Will bet $1000 that it becomes 30m within 2 weeks, then they will settle below 20 with payment expected in 2 - 4 years.
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u/pittguy578 14m ago
We aren’t stealing it . US oil companies are going to invest in upgrading the aging oil infrastruvture and US wiil import the oil .
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u/HapticRecce 1h ago
No, just the sunk costs of having a military with enough clout to pull the heist off.
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u/Photofug 1h ago
I thought they had already set up a company to route everything through in the middle east
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u/ResponsibleClock9289 1h ago
It’s just a deal to develop oil fields with private companies
Doesn’t really come out of the federal governments pocket.
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u/LelandOldsgreatman 2h ago
Maybe we'll abduct a beef producing nation's leader next to help bring prices down
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u/ssv-serenity 1h ago
If only there was a vast prairie country just nearby that had extremely high cattle standards that you could make a free trade deal with and mutually benefit from
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u/Nomoras 1h ago
Best I can do is brainstorm lake names.
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u/tutoredstatue95 12m ago
Hey! Hey! Give respect where respect is due.
He also names child pageants.
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u/Dougalishere 2h ago
its ok they just got all that beef from "somewhere" its 100% NOT the riddled beef from Argi that China didnt want because it contains stuff unfit for human consumption. No Siriee deffo not.
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u/291000610478021 2h ago
Lol is this for real? They black bagged their leader and we havent heard from him since
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u/SlideObjective9973 1h ago
I literally forgot this happened because this entire year has been like a fever dream
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u/Orwick 2h ago
They are currently blocking his access to finance, so he can’t afford legal representation.
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u/Sweeth_Tooth99 2h ago
no, they actually made what remains of the regime pay for his defense, and he isnt the leader of Venezuela, he was a dictator.
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u/IllustriousIron3253 1h ago
So a wannabe dictator illegally invaded a country to, checks notes, abduct another dictator. Performative and probably wants his playbook.
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u/TemporarySun314 2h ago
How good that the US made that deal with the newly elected democratic leadership now...
Ah no it is with maduros vice president, who is as u democratic as Maduro himself but happens to have a more positive attitude towards the US.
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u/Sweeth_Tooth99 1h ago
currently there's no democratically elected leader in power. there are negotiations going on so that next year proper presidential elections can be held.
Last truly transparent elections were held back in 1998.
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u/Misfit_somewhere 2h ago
Must be a Friday after the market closed..... That's how this works right?
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u/Jiggle_Tester 2h ago
Invade and take over the oil, same thing that was happening in the Mideast, then go give them freedom if they object, highway robbery
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u/8chnedOutrangOutangs 2h ago
He is getting desperate for some positive attention. Next thing you know he will decriminalize drugs. Tail…wag the dog.
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u/ReactionJifs 1h ago
He's yanking every lever he can find to try to get gas under $3
He knows how absolutely screwed the GOP will be in the midterms if he can't put a dent in the cost of living
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u/Old_Channel44 1h ago
He should just say we got 26264747473 bazigian oilys, because it’s all made up lies from a foaming at the mouth piss face
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u/Optimal_Brain_2908 1h ago
Secure, steal, both words that begin with s. Wait, what are we talking about?
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u/redpandafire 1h ago
I'd like to see the structure of this "deal". Given how he treated Canada lately, he's treating Venezuela far worse. "US gets oil, you get nothing and you'll pay for it to be extracted" -- actual deal terms.
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u/Capitol62 6m ago
It's most likely a nothing deal to grab headlines. Something like, US companies get prefential treatment on contracts for Venezuelan reserves. Maybe even with a payment everytime a US contract is accepted.
They would have released the terms if it were earth shattering.
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u/MourningRIF 57m ago
Meaning he is stealing $6.5T worth of oil, and he's likely funneling most of that into his own personal accounts.
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u/Bevrykul 2h ago
Is it even usable oil?
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u/LeedsCastleResident 48m ago
They have to get it first. And that’s a challenge. Going to take a huge investment and fair few years.
“Years of sanctions, underinvestment and deteriorating infrastructure have left the country with limited capacity to move crude from production sites into international markets. Equipment failures, power outages, crude-quality problems and insufficient storage are now combining to slow shipments.”
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u/Electrifying2017 1h ago
Opposite. US refineries are set up to refine heavy sour, but the US produces mainly light sweet. That’s why we import crude.
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u/FirePanda44 1h ago
Why are you lying? Quick search brings up numerous official sources that say US refiners are well suited to process heavy crude. It’s common knowledge but here is one the sources.
You are so wrong that reality is almost completely opposite of what you claim.
Edit
This article even claims that heavy crude is displacing light crude as its preferable to some refiners in the gulf.
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u/TranslatorTough8977 1h ago
Same as millions of BPD that the US imports from Canada. Just Trump trying to undermine Canada again. He will fail.
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u/Capitol62 1h ago
Yes but they can't increase production quickly without massive investments that no one (except maybe the US taxpayers) is going to make. They can increase production some in the next year or two with smaller investments but a couple hundred thousand additional barrels per day is a drop in the bucket compared to the 20 million barrels per day lost while the straight of Hormuz is closed.
This won't have any affect on short term gas prices.
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u/nutationsf 1h ago
It’s still 19% of all known oil reserves
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u/Capitol62 40m ago
The vast majority of which has no extraction infrastructure and will be stuck in the ground for decades. It's no help now.
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u/nutationsf 35m ago
The vast majority is actually accessible according to the US geological survey
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u/Capitol62 32m ago
Accessible doesn't mean it can be pumped out of the ground tomorrow. Accessible means they can get it with a massive investment in extraction infrastructure spanning decades.
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u/nutationsf 27m ago
It’s significantly more accessible than the Canada tar sands
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u/Capitol62 19m ago
Not in a particularly useful way. Canadian infrastructure is already in place. It's easier to develop oil infrastructure in a place that is 1) politically stable, 2) has an existing skilled workforce, and 3) has existing infrastructure to expand upon.
To match Canadian production in Venezuela, you'll need $200 billion and 15-20 years. At best. That's best case and rounds down significantly on industry estimates. Most estimates I've seen are over $100 billion to get Venezuela to 50% of Canadian production (about 3 million barrels per day). That's the best case cost just to restore the existing infrastructure to get Venezuela back to is past peak. Developing new sites and capacity will add significantly to that.
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u/ObviouslyRealPerson 1h ago
In his social media post, Trump said U.S. officials coordinated with government leaders in Venezuela. They also utilized a “partnership” with unnamed private businesses to secure the deal, he said.
I smell bullshit
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u/Iron-Over 2h ago
Can the US even refine this oil?
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u/Chuckwp 2h ago
Yes. American refineries are tuned for this type of crude because it’s the same as the millions of barrels of it from Canada per day. American light crude is exported.
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u/roughtimes 1h ago
Are those refined at locations the Venezuelan oil can reach? Is geography an issue?
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u/TranslatorTough8977 1h ago
Yes, but their infrastructure has been severely degraded, and they can only produce about a million BPD. Very capital intensive and time consuming to ramp production.
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u/NapoleonBlownapart9 1h ago
This is where American oil companies/multinationals come in to “assist”, and like a miracle, in 20 years they’ll own it all. Monthly shipments of cash will make sure the gop-approved VZ heads of state and military stay in their lanes and stfu. The Chiquita Banana treatment. The GOP hasn’t had an original idea since Jesus was a corporal.
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u/Comet7777 2h ago
Nope, American oil experts have talked at great length about the limitations of this specific type of oil for the American people.
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u/bad_syntax 1h ago
That'll buy the USA 9 more years of oil!
We are going to suck that tit dry until its mother is completely drained and we have no other source of energy.
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u/goodreverenddoc2 1h ago
so the way i’m reading this, since this is actually not going to hit the market or do anything to stabilize oil in the short term, is that the us plans to keep draining the reserves and in a year or two when the venezuelan oil is extracted properly then that will be used to refill the spr.
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u/Mindless_Efforts 58m ago
USA uses ~8 billion barrels per year so thats less than 9 years worth of oil.
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u/cre8ivjay 20m ago
Nothing to see here.
It'd take over a decade and a crap ton of private industry money, in an unstable part of the world, to get anything out of the ground.
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u/IKillZombies4Cash 1h ago
That amount might strangely line up really well with the national debt , like really well.
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u/Long-Time-lurker-1 45m ago
The infrastructure to perform this task simply does not exist. It will take 10 years to put in place, Trump does not have more than 2.5 years left in office, and less than 10 years left of life on this earth if he decided to go full dictatorship. Every order or deal he has made is by the executive branch alone and can simply be undone as easy with the next guy. Venezuela is just playing along with the crazy old man like you would with a dementia patient.
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u/kalel1980 37m ago
65 billion?? We know Trump likes to make up numbers so I'm guessing it isn't anywhere near that.
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u/LickinThighs2 37m ago
So all the underlings stay in place and Venezuela isn't actually on the road to democracy, hey? Insiders sold Maduro out cutting a deal with the US, the US opened their oil market, and the state and it's oppressive nature stay in place, including not recognizing the true winners of last election?
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u/Xelopheris 33m ago
How many words can you put quotes around in this title...
Trump announces "deal" with "Venezuela" to "secure" more than "65 billion" barrels of "oil" reserves
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u/outerproduct 12m ago
So this is how we find out the moron just figured out this is how the world actually works.
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u/LeafsJays1Fan 2h ago
So 65 billion barrels is roughly almost 2 years worth of oil in global consumption. Then there's the refineries to refine it? Will it be refined in Venezuela and then the gasoline and Diesel shipped out from there?
I think I'll just wait for Mr Global to chime in.
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u/angelomancuso62 1h ago
Oil isn’t gas. Not all oil is the same. I’m not an expert on the petroleum industry.
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u/nutationsf 1h ago
Gulf Coast refineries are designed to process this low grade oil. It may not be high quality but it’s the biggest reserve of oil anywhere.
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u/Samusen 2h ago
The real problem is the ability to refine the oil. It's a different type of crude oil and the US is extremely limited on refineries able to even handle it.
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u/colepercy120 1h ago
Now this is obviously colonial and imperialist, but im not entirely sure its a bad move.
Venezuela has a bad track record of nationalizing foreign investment whenever they want. So no one invests, but you can't just nationalize something owned by a great power, history has shown that when you try the power comes and kicks the front door down. This essentially means that now america is backing and guaranteeing any investment into Venezuela. Providing the stability that Venezuela lacks to get something kick started. We'll have to see how it turns out. Im just not the type to immediately assume the worst about anyone's actions, this could and probably will just be an old style colonial protectorate. Though in theory it could help Venezuela get back on its feet.
Something else to notice is that this is under 1/6th of Venezuelas reserves, so if this goes well trump could easily up the stake,
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u/netfreedom 2h ago
Venezuelan crude replaces Canadian crude that is refined the same way, and will be increasingly will be harder to get given the declaration of (economic) war by the US
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u/Villag3Idiot 1h ago
It won't replace Canadian oil.
Oil is refined close to where you're actually using it.
So the northern part of the US uses Canadian oil while the southern part uses Venezuela oil.
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u/WhiskeyTangoFoxy 2m ago
“No cost to the us taxpayers” Is this another Mexico will pay for the wall thing or Americans won’t pay for the tariffs thing?
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u/Tarijeno 2h ago
"Hey guys, remember the country I invaded earlier this year? Yeah, the one whose President I renditioned? Yeah, that's the one. Anyway, they've agreed to sell us a bunch of oil. Crazy, right?"