A passerby in Caracas in front of a mural depicting the Venezuelan flag and an oil pumpjack, in August 2026. (Credit: Pedro Mattey/AFP)
Interim Venezuelan President Delcy Rodriguez said last week that the new 25-year oil deal with the United States would turn the country's reserves into "social happiness." Donald Trump, however, sees it as a far more strategic move: Washington would secure majority control over more than 65 billion barrels of proven oil reserves at no cost to the American taxpayer. Behind these two narratives lies a broader question about Trump’s determination to strengthen U.S. control over oil resources and the maritime routes that carry them, with China squarely in his sights The current backdrop 'Tanker for tanker': The new US tactic toward Iran From Tablazo to HormuzThe Tablazo Strait, which connects Lake Maracaibo to the Caribbean Sea, is essential for Venezuela, with the lake accounting for 20% of the country's oil...
Interim Venezuelan President Delcy Rodriguez said last week that the new 25-year oil deal with the United States would turn the country's reserves into "social happiness." Donald Trump, however, sees it as a far more strategic move: Washington would secure majority control over more than 65 billion barrels of proven oil reserves at no cost to the American taxpayer. Behind these two narratives lies a broader question about Trump’s determination to strengthen U.S. control over oil resources and the maritime routes that carry them, with China squarely in his sights The current backdrop 'Tanker for tanker': The new US tactic toward Iran From Tablazo to HormuzThe Tablazo Strait, which connects Lake Maracaibo to the Caribbean Sea, is essential for Venezuela, with the lake accounting for 20% of the country's oil...
