President Trump’s administration has been pushing U.S. companies like Chevron to invest more in Venezuela’s oil industry.
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Trump calls Venezuelan oil a 'gift' to Americans; Chevron pays $7 billion to pump it.
“They call it a gift, then Chevron writes a seven-billion-dollar check to keep it — that's not a gift, that's a purchase with a press release. Same sixty-five billion barrels: first it's pitched as topping off the country's emergency tank, four days later it's Chevron doubling its own production line in the same fields. Call that whatever you want, it isn't charity, and somebody at the pump is going to cover the difference.”
“Nobody's taking anything here — this is private investment, Chevron spending its own capital, that's just called business. The deal memo says zero cost to the taxpayer, it's right there in black and white, so if the seven billion bothers you, take it up with Chevron's shareholders, not the Treasury — wait, did I just say the shareholders should eat that number? That's not — look, the production figures are up, that's the story.”
The receipts
Venezuelan interim President Delcy Rodríguez on Saturday provided details on her country's new oil deal with the U.S., after President Trump said much of Venezuela's oil reserves will be under "majority U.S. control." "This 25-year…
Oil giant Chevron has pledged to double its Venezuelan oil production with a $7 billion investment after the U.S. reached a deal with Caracas. CBS News' Lilia Luciano has more.
President Donald Trump was accused of naked gangsterism and revisionist history on Sunday when he announced that Venezuelan oil would be used to refill the US Strategic Petroleum Reserve. "One of the things I am going to do with the Venezuelan Oil is fill up the Strategic National Reserves which, because of Sleepy Joe Biden, has been…
President Donald Trump announced on Truth Social on Friday that his government had "secured majority US control" of Venezuelan oil reserves containing 65 billion barrels of oil. The announcement followed on reporting from Axios that a deal was in the works, prompting criticisms that such a move would be "colonial" and calls for Congress…
President Donald Trump announced on Friday that he struck a historic oil deal with Venezuela, after wresting power from former Venezuelan dictator Nicolas Maduro in January. The president said the United States has established “majority”…
{beacon} Energy & Environment Energy & Environment The Big Story Chevron plans to double its Venezuela oil production Chevron announced early Wednesday that it has reached an agreement to expand its oil production in Venezuela. © AP Photo/Rogelio V. Solis, File The company said the deal would more than double its current oil production...
This page is a back-issue: the story as it ran, receipts as they were. The current edition is at the front.