US not 'stealing Venezuelan oil', energy secretary insists
US Energy Secretary Chris Wright says that while private oil companies are bringing money to produce the oil, "the benefits, the royalties and the taxes all go to the government of Venezuela and the people of Venezuela".
- Why it matters
- The statement addresses claims that US firms operating in Venezuela are extracting resources without proper compensation to Venezuela, which could affect sanctions policy and commercial access to Venezuelan oil.
- Most affected
- Venezuelan government and citizens — Royalties and taxes from US oil operations allegedly flow to them, not to the US.
US oil companies operating in Venezuela — US position on their legitimacy affects their ability to continue operations and avoid sanctions enforcement. - Likely next
- Whether Venezuelan officials or US critics respond to the energy secretary's characterization of the royalty and tax arrangement.