Trump steals Venezuela’s oil – too late for elections

DO US voters still trust their President’s every word? That question will be answered on 3rd November, when US voters elect members of The House of Representatives and the Senate – together known as Congress.

The Trump statement that the voters have to trust is his assertion that petrol (“gas”) prices will come down as a result of an agreement he has reached with Venezuela to take control of much of its oil. That agreement will not see petrol refined from Venezuelan oil in US pumps before the mid-term elections – so voters have to trust Trump’s words that petrol prices will go down. They would be foolish to do so.

At the time of writing, the terms of the US “deal” with Venezuela have not been announced, so no one can verify whether the confident claims of Trump and his gofers are true. Trump has been known to get the contents of international deals wrong before. What we do know is that Trump claims that the US has “taken control” of 65 billion barrels of Venezuela’s oil reserves.

Venezuela’s President Nicolas Maduro would not have done a deal with the USA, so US military forces kidnapped him in January 2026. That left his Vice President, Delcy Rodriguez, to step in as interim President – and she seemed willing to do a deal with Trump as soon as she took over.

Venezuela does not have the expertise or money to develop its own oil reserves. Trump was clear from the moment he got Maduro out the way that he was prepared to organise investment – in return for oil. Investors are not going to give Venezuela money. They will want to get their investment back – and more on top. Venezuela may get jobs out of foreign investment, but it will lose the money it could have made on the oil.

Venezuela will also lose control. 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.” Secretary of State Marco Rubio was a little more tactful, saying the new agreement was “a huge win for both the American and Venezuelan people.” We need to see the details of the actual agreement before we can work out what Rubio means. In the meantime, the agreement looks little more than a playground bully stealing other kids’ pocket money.

●Read more about it:
Trump kidnaps Maduro and eyes up Venezuela
Venezuela and US go Instagram official