The US Energy Secretary Chris Wright has denied allegations that Washington is attempting to commandeer Venezuelan oil, amidst rising criticism of Donald Trump’s energy deal with the country’s interim leaders. Wright stated, "Absolutely not," when asked by a CNBC journalist if the US was engaged in a heavy-handed effort to take Venezuelan oil in violation of the country’s constitution.
Context
Wright arrived in Caracas, Venezuela’s capital, on Tuesday night, just four days after Trump announced what he described as "the biggest oil deal in world history." He emphasized that the deal signifies a historic transformation in both Venezuela and its relations with the US. Trump has claimed that the agreement will provide the US control over 65 billion barrels of Venezuelan oil.
Developments
Wright remarked, "This is President Trump’s grand plan to replace conflict with commerce." The White House has stated that the deal will help secure US energy dominance for the next century and eliminate foreign malign influence from the region by excluding China and Russia from Venezuela’s oilfields, which hold the world’s largest proven oil reserves.
However, the deal has faced criticism from various political factions. The Wall Street Journal’s editorial board commented that Trump’s agreement with Venezuela’s unelected interim president, Delcy Rodríguez, resembles a scene from The Godfather Part II, suggesting it is less a normal commercial transaction and more a troubling alliance with a foreign dictator.
