Trump, Venezuelan Oil, and National Security

The core attributes of any energy source are reliability, cost, and security. Gaining control of Venezuela’s vast oil reserves advances each of those attributes for the benefit of America and Americans.

William R. Hawkins | September 4, 2026

What President Donald Trump called “the biggest oil deal in world history” when it was announced last week is not the only highly favorable deal his administration has made with the “interim authorities” in Venezuela. Last May, it was announced that the global commodities firm Mercuria Energy Group had secured outtake agreements covering much of Venezuela’s extensive mineral holdings. Gold grabbed the headlines, but nickel, aluminum, coltan, and other critical minerals essential for electric vehicles, artificial intelligence, and modern defense systems are the real strategic gains to ensure more secure supply chains for American manufacturing. While private capital is essential for developing these resources, the true direction is coming from the U.S. government to make sure our country benefits. This is the purpose of the National Energy Dominance Council created by President Trump with an eye on the rivalry for control of global resources that is driving plans in Beijing and Moscow as well as in Washington. The Treasury Department will exercise oversight of all transactions.

The oil deal with Venezuela takes this oversight even further. Under the agreement, North American Blue Energy Partners (NABEP), a privately held oil company that is the second-largest private Venezuelan oil producer, was given a 100-year concessions for 17 oil fields with proven reserves of approximately 65 billion barrels. In turn, NABEP “granted the U.S. Department of War’s Office of Strategic Capital a 35% equity stake in its corporate parent, representing up to hundreds of billions in value and dividends for the United States.” This is called “golden shares” and has been common in many other countries to secure strategic assets for the national interest. Golden shares give governments veto power over corporate actions that could........

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