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.”
Oil companies and governments are consuming their once vast stockpiles as Iran and the United States continue to struggle for control over the Strait of Hormuz.
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