Biden Cuts Oil Deal with Venezuela While Cutting Domestic Production Opportunities

October 17, 2023

According to reports, the Biden Administration is working on a deal with the dictator of Venezuela to ease Trump-era oil sanctions in exchange for assurances on elections in 2024.

Fox Business reports,

“The Venezuelan government led by socialist dictator Nicolas Maduro is expected to sign an agreement on Tuesday with U.S.-backed opposition leaders vowing to allow a freer election next year as part of the deal, according to the Washington Post, which cited multiple anonymous sources familiar with U.S.-Venezuela negotiations. American officials are expected to be in attendance for the signing that will take place in Barbados. If the agreement is signed, the U.S. is expected to lift certain oil sanctions that have crippled the nation’s energy industry. The actions may also include a license for Petroleos de Venezuela SA, the lead Venezuelan state-owned oil and natural gas company, to resume business with American companies, according to the Post.”

This comes less than a month after Biden’s Department of Interior (DOI) announced they would hold the fewest offshore oil and gas lease sales in the history of the United States.

Power The Future Founder Daniel Turner slams President Biden’s continually negligent energy policies,

“The pathetic pattern of Joe Biden’s energy policy continues: attack American energy production while begging foreign powers to produce more oil. Whether it’s turning a blind eye to Iran’s oil sanctions or making a deal with socialist dictators, Joe Biden has never met a foreign barrel of oil he doesn’t like. By now, it should be abundantly clear that Joe Biden will always prefer Tehran over Texas and Caracas over Carlsbad.”