The truth behind Donald Trump’s ‘biggest oil deal in world history’
The US’s oil deal with Venezuela faces multiple legal and logistical problems, including questions about whether it can be implemented
TL;DR
- Donald Trump has frequently expressed interest in seizing oil from other nations, including Venezuela.
- A deal was announced where the US Pentagon's office of strategic capital would own a third of North American Blue Energy Partners (Nabep), a Venezuelan oil firm.
- Experts claim Venezuelan law does not permit 100-year oil deals, contradicting administration statements.
- The legality of the office of strategic capital owning company shares is questioned by experts.
- Alejandro Betancourt López, owner of Nabep, has a complex background involving past investigations and allegations.
- The Pentagon's claim of owning shares in Nabep is disputed; it may only hold 'warrants' (rights to purchase shares).
- The deal's structure and transparency have raised concerns among major oil companies and investors.
- Venezuelan legal experts state the deal cannot be implemented as announced by the Trump administration.
- Betancourt has faced scrutiny over his business dealings, including accusations related to kickbacks and money laundering, though he has never been charged in the US.
- The US government's decision to engage with Betancourt, given his history, is questioned by those familiar with Venezuelan affairs.