The Defense Department’s Office of Strategic Capital, founded by the Biden administration to give loans to bolster the U.S. defense industry, is helping lead President Trump’s oil deal.
President Trump said his defense secretary and secretary of state reached an agreement with the Venezuelan government on securing billions of barrels of oil reserves “through a partnership with private business.”
President Trump announced an unprecedented agreement in which the Pentagon would become an investor in a private company granted exclusive oil development rights in Venezuela. Nick Schifrin discussed the deal with Francisco Monaldi, director of the Latin America Energy Program for the Baker Institute at Rice University.
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