Trump Just Announced The US Is Taking Control Of Venezuela's Oil — And The Backlash Is BRUTAL

Donald Trump just dropped a bombshell that has the entire world doing a double-take.

The US president announced Friday that America has secured "majority control" of more than 65 billion barrels of Venezuelan oil reserves — and he says it didn't cost taxpayers a penny. But critics are calling it something else entirely: a massive, predatory land grab.

The Deal That's Breaking The Internet

According to The Guardian, Trump said the agreement was brokered by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth "through a partnership with private business." The president claimed on social media that this deal would more than double American oil reserves.

"This deal is a huge win for both the American and Venezuelan people," Rubio wrote on social media.

But here's the thing: The actual terms of the agreement remain vague. Trump's announcement provided almost no details about which fields are involved, which companies are participating, or how exactly the US plans to exercise "majority control" over these reserves.

Why This Matters (And Why People Are FURIOUS)

Venezuela has an estimated 303 billion barrels of proven oil reserves — the largest in the world. That's more than Saudi Arabia (268 billion) and Iran (208 billion) combined.

Reports earlier this week from the Wall Street Journal and Axios suggested the Trump administration was in "advanced talks" to take a direct stake in more than a dozen oilfields containing about 90 billion barrels — nearly a third of Venezuela's total energy reserves. Bloomberg even reported discussions about a 100-year lease on several fields.

One US official told Axios: "Calling this deal huge would be an understatement… It is massive."

The Backlash Is INTENSE

Venezuelan opposition figures — many of whom initially supported US intervention after Trump's administration removed former president Nicolás Maduro from power in January — are now absolutely livid.

"It's a land grab – a massive land grab," one well-known opposition figure told The Guardian, speaking anonymously. "It's revolting because this is not the United States one would have [expected]. This is not the United States of the Marshall plan. This is a rapacious, mafioso United States."

Former Venezuelan minister Ricardo Hausmann wrote on X: "An illegitimate interim government with an illegitimate hydrocarbons law has no legitimacy to strike this unconstitutional deal. It will be a fiasco for all involved."

Economist Francisco Rodríguez called it a "predatory deal" and urged Venezuela's national assembly to reject it. "Handing over Venezuela's oil wealth to the US contravenes the constitution and is not in the interest of the Venezuelan people – much more when it is done at gunpoint," he said.

The Colonial Comparison Everyone's Making

Energy historian Gregory Brew told The Guardian the deal reminded him of how British Petroleum controlled oil resources in Iraq and Iran at the start of the 20th century.

"It sounds colonial, because it is," Brew said, explaining that from Trump's perspective, controlling Venezuelan oil means the US can treat those reserves as its own while excluding China, Russia, and other potential customers.

What Happens Next?

Trump is reportedly under pressure ahead of November's midterm elections over rising gasoline prices, and cheaper Venezuelan oil could help ease that political pain point.

Chevron and other US energy companies are expected to sign deals next week investing billions in Venezuela's oil fields, according to the Wall Street Journal.

But the political fallout? That's just getting started. Venezuela has been led by interim president Delcy Rodríguez since Maduro's removal, and no date has been set for fresh elections. The exiled opposition leader María Corina Machado — whose movement is believed to have won the 2024 presidential elections — has been sidelined entirely.

The big question now: Is this really a "win" for the Venezuelan people, or is it something much darker?

Sources:

• The Guardian: Trump announces new US oil agreement with Venezuela
• The Guardian: Venezuelan opposition up in arms over reports US wants big stake in oil and gas

What do you think — is this a smart energy move or a colonial-style power grab? Sound off below.