US President Donald Trump claimed that the United States and Venezuela together control 68% of the world’s oil reserves. Speaking at the 74th National Prayer Breakfast, he said the US will utilize Venezuela’s oil and expand its energy business globally.
Trump Says America and Venezuela Hold Majority of Global Oil Reserves
Washington: United States President Donald Trump made a major statement on Thursday. He said that the United States and Venezuela together control approximately 68 percent of the world's oil reserves. Trump made this statement during his address at the 74th National Prayer Breakfast.
In his speech, Trump stated that the United States took control of Venezuela in January and would now utilize its oil wealth. Referring to Venezuela's dire economic situation, he said, "They were in a lot of trouble. Yet they have the most oil in the world, maybe even more than us." Trump reiterated that the United States and Venezuela together own 68 percent of the world's oil reserves.
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Trump cited the military action that took place in early January. He said that the United States entered Venezuela and captured President Nicolas Maduro and his wife. Trump described it as a "major military operation." He also said that American oil companies would go to Venezuela and spend billions of dollars, fixing the oil-related problems, and selling oil on a large scale.
Trump stated that the US will continue to govern Venezuela until a safe transition of power is achieved. However, this claim and the military action are being questioned, raising legal and political questions.
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In his speech, Trump also stated that the US will further strengthen its oil business and sell Venezuelan oil on the global market. He emphasized the vastness of Venezuela's oil reserves. According to experts, Venezuela has the world's largest oil reserves, accounting for approximately 17 percent of the total global oil reserves.
Overall, Trump's statement has sparked new discussions about the global energy market and oil prices. His claim, along with the assertion of US control over Venezuela, has stirred international politics.
