US Plans Long-Term Control Over Venezuela’s Oil Industry
According to the Economic Desk of Webangah News Agency, the US government under President Donald Trump is formulating an extensive plan to exert long-term control over Venezuela’s oil industry. The strategy involves gaining direct influence over Venezuela’s state-owned oil company, PDVSA, to purchase and market a significant portion of its crude output. This move, as outlined by Washington’s plans, is expected to drive global oil prices down to approximately $50 per barrel.
The Wall Street Journal, citing informed sources, reported that the proposed plan would grant the US substantial oversight of PDVSA, including control over bulk purchases and marketing of Venezuela’s oil production. Primary objectives of this strategy include expelling Russian and Chinese interests from Venezuela while lowering energy costs for American consumers.
If successful, this initiative would enable the United States to dominate most petroleum reserves in the Western Hemisphere. Sources familiar with the matter noted that the plan could effectively establish US stewardship over the majority of Western Hemisphere oil reserves while achieving two key administration goals: removing Russian and Chinese influence from Venezuela and reducing energy prices for domestic consumers.
President Trump has repeatedly stated that controlling Venezuela’s oil resources was a primary motivation behind US intervention in the country.
