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In It to Win It

(12,506 posts)
Tue Jan 6, 2026, 08:56 PM Jan 6

Venezuela to export $2 billion worth of oil to US in deal with Washington

HOUSTON/WASHINGTON, Jan 6 (Reuters) - Caracas and Washington have reached a deal to export up to $2 billion worth of Venezuelan crude to the United States, U.S. President Donald Trump said on Tuesday, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts.

The agreement is a strong sign that the Venezuelan ​government is responding to Trump's demand that they open up to U.S. oil companies or risk more military intervention. Trump has said he wants interim President Delcy Rodriguez to give the U.S. ‌and private companies "total access" to Venezuela's oil industry.

Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that it has been unable to ship due to a blockade on exports imposed by Trump since mid-December.

The blockade was part of rising U.S. ‌pressure on the government of Venezuelan President Nicolas Maduro that culminated in U.S. forces capturing him this weekend. Top Venezuelan officials have called Maduro's capture a kidnapping and accused the U.S. of trying to steal the country's vast oil reserves.

https://www.yahoo.com/news/articles/exclusive-venezuela-us-talks-export-201017077.html
18 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies

yaesu

(9,116 posts)
1. Koch brothers have the only refineries set up for their heavy crude, they are doing tRump dances right now. nt
Tue Jan 6, 2026, 08:59 PM
Jan 6

wcmagumba

(5,815 posts)
2. I read that the Venezuelan oil is a very low grade, barely usable for making asphalt pavement...guess we need that...
Tue Jan 6, 2026, 09:00 PM
Jan 6

Melon

(1,168 posts)
8. I had written a post on the big loser of this could be Canada a few days ago...
Tue Jan 6, 2026, 09:14 PM
Jan 6

The direct competition to the Canadian oil in our system is Venezuelan oil.

In It to Win It

(12,506 posts)
12. I agree. US refineries have a lot of capacity but it's not unlimited like you said.
Tue Jan 6, 2026, 09:37 PM
Jan 6

and they are operating at optimal capacity already.

They'd be competing for the same slots, and Venezuelan oil would probably be cheaper than Canadian oil. That would have some negative economic effect for some northern states along the Canadian border and the midwest because there is some economic and job reliance on the importing of Canadian oil because of their proximity to Canada.

Disaffected

(6,250 posts)
14. Yes, on the Gulf (of Mexico) coast;
Tue Jan 6, 2026, 10:19 PM
Jan 6

not so much for the mid-west refineries where most Canadian crude goes.

Canadian oil analysts don't seem too worried as, upgrades to Venezuela's oil field will take many years, if they can actually find any majors who are interested in a long term investment in an unstable country (sorta similar to the US now-a-days) and, Canada is actively seeking new markets, particularly in Asia for which a new pipeline to the west coast is in the works.

In It to Win It

(12,506 posts)
5. It's extra-heavy oil, but we can refine it. US refineries are optimized for heavy oil.
Tue Jan 6, 2026, 09:09 PM
Jan 6

It's why we import oil. We import heavy crude. Canada's oil from oil-sands is also extra-heavy crude. We import millions of barrels a day of Canada's extra-heavy crude oil. We export light crude oil. The US produces mostly light crude oil and we don't have the refining capacity for all of it, so it is exported.

CousinIT

(12,353 posts)
3. The profits from this will go directly to DONALD TRUMP'S personal accounts.
Tue Jan 6, 2026, 09:05 PM
Jan 6

The US Treasury won’t see one cent from it. He *might* share some of the profit with his shitty offspring. But damn sure America or Americans won’t see a nickel of it.

SO - he’s using OUR tax dollars to ENRICH HIMSELF and his fellow billionaires.

WE
GET
NOTHING

AloeVera

(4,052 posts)
9. He's stealing it.
Tue Jan 6, 2026, 09:24 PM
Jan 6
Venezuela will be "turning over" between 30 and 50 million barrels of "sanctioned oil" to the U.S., Trump said in a social media post.

"This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!," he added.


"Turned over", not bought. Like a ransom or extortion money.

Theft in broad daylight, from the people of Venezuela.

bigtree

(93,691 posts)
15. 'Trump said'
Tue Jan 6, 2026, 10:44 PM
Jan 6

...how many deals so far have proven bullshit that he proclaimed from the WH?

Clue.

MorbidButterflyTat

(4,281 posts)
16. Anyone else confirm this
Tue Jan 6, 2026, 10:58 PM
Jan 6

or are we expected to believe the psychopathic pathological liar?

I'm sure the check from Mexico paying for the wall will arrive any day now.

miyazaki

(2,613 posts)
17. That fast eh. The smoke hasn't even settled.
Tue Jan 6, 2026, 11:37 PM
Jan 6

Total smash and grab.

At some point, these fuckers are gonna flee.

Jack Valentino

(4,618 posts)
18. And how much of that will benefit the starving citizens of Venezuela ???
Tue Jan 6, 2026, 11:44 PM
Jan 6

Just about ZERO dollars ????


There are a lot of armed guerrilla groups in Venezuela,
whom the former government could not control---

and some have rightfully declared their hostility to any American takeover
of their country--- this is IRAQ all over again!!


Despite Trump's fantasy about taking over their oil fields,
that could not be accomplished without significant American military presence,
and the oil companies are very unlikely to try to do it anyway---
because all of their employees there would become targets
for the guerrillas!


Stupid. Stupid. Stupid. Fantasy.

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