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The Trump administration and Saudi leadership have reportedly agreed to a nuclear agreement that could enable US nuclear technology transfers to Saudi Arabia.
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It's been a tumultuous year for Venezuela, marked by political upheaval and deadly earthquakes. Then, in late August, the Trump administration announced a deal for over 65 billion...
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PCCMs facilitate the generation, trading, and retirement of carbon credits from projects that remove, reduce, or avoid greenhouse gas emissions. By creating a revenue stream from verified climate...
It’s been a tumultuous year for Venezuela, marked by political upheaval and deadly earthquakes. Then, in late August, the Trump administration announced a deal for over 65 billion barrels of Venezuelan oil reserves—and a 35% stake in North American Blue Energy Partners (NABEP). The move could turn a little-known private company into one of the world’s largest corporate holders of oil reserves.
But NABEP wasn’t the only headline. In the same week, Chevron pledged $7 billion to double its Venezuelan production, Italian major ENI moved forward on a massive oil field agreement, and GE Vernova signed on to rehabilitate the country’s crippled electric grid. All told, Venezuela signed deals covering more than 150 billion barrels of oil resources—an unprecedented scale-up for a sector starved of investment for over two decades.
Yet for all the fanfare, basic questions remain unresolved. What are the terms and legal basis for the deal? What does direct US government equity in Venezuelan oil actually mean for American energy security and gas prices at the pump? And where does this deal fit in the long energy history between the US and Venezuela—is this a genuine turning point, or just the latest swing in a cycle of investments and setbacks that hasn’t delivered lasting progress for ordinary Venezuelans?
Today on the show, Jason Bordoff speaks with Luisa Palacios and Bob McNally.
Luisa is an adjunct senior research scholar here at the center, where she also served as CGEP’s head of research. Before joining CGEP, Luisa was chairwoman of Citgo Petroleum Corporation, the US refining arm of Venezuela’s state oil company, PDVSA.
Bob is the founder and president of Rapidan Energy Group, an independent energy consulting and market advisory firm. From 2001 to 2003 he served on the White House National Economic Council as special assistant to President George W. Bush. And in 2003, he was the senior director for international energy on the National Security Council. His 2017 book, Crude Volatility: The History and the Future of Boom-Bust Oil Prices, examines the history of oil price swings.
Advanced technologies, a return to domestic manufacturing, and the race to control energy production while also confronting surging demand for electricity—all of these factors mean that for the...
Energy abundance means different things in today’s global context than it did even a decade ago. It is about expanding electricity access while meeting rising energy demand. It...
Abundance and affordability have become buzzwords among policymakers, who often have sharply different interpretations of how to attain them. To some, an energy abundance agenda means fewer regulatory...
It started last year as a pressure campaign at sea, with the United States seizing tankers as part of what President Trump called a “total and complete blockade”...
The Trump administration and Saudi leadership have reportedly agreed to a nuclear agreement that could enable US nuclear technology transfers to Saudi Arabia.
By almost any measure, the world should be suffering a far more severe energy crisis.
The ongoing disruption of oil exports through the Strait of Hormuz has caused a substantial decline in China's crude oil imports.
