One of the beautiful things about being energy independent during the Trump administration was our ability to keep dictators in line and not allow other countries to control costs. Since Biden took office, that has all disappeared, and oil prices have skyrocketed.
The Saudis have snubbed him, so now Joe has decided cut Venezuelan dictator Nicolas Maduro a break, easing sanctions as long as all of the oil he drills comes to the United States.
Joe hates American independence so much he’s willing to entrench a dictator than grow the US economy.
The Biden administration Saturday eased some oil sanctions on Venezuela in an effort to support newly restarted negotiations between President Nicolás Maduro’s government and its opposition.
The Treasury Department is allowing Chevron to resume “limited” energy production in Venezuela after years of sanctions that have dramatically curtailed oil and gas profits that have flowed to Maduro’s government. Earlier this year the Treasury Department again allowed the California-based Chevron and other U.S. companies to perform basic upkeep of wells it operates jointly with state-run oil giant PDVSA.
Under the new policy, profits from the sale of energy would be directed to paying down debt owed to Chevron, rather than providing profits to PDVSA.
Instead of enriching America, Biden is letting a brutal dictator get incredibly rich.
Oh, and there’s more, guess who owns most of Venezuela’s oil production? Russia.
There’s not much that can be done because the Treasury Department has already authorized Chevron to increase drilling in Venezuela.
Fox Business reported that Chevron Corp won US approval “to resume and expand its oil operations in Venezuela.”
According to the Biden administration, we can’t increase US oil production because of the climate but we can let a foreign dictator drill more and make him incredibly wealthy.
The United States has one of the largest oil reserves in the world, we could help our allies, grow our economy, and bring down prices. Instead, Joe is bowing to dictators.