Trump Says Venezuela Oil ‘Money Will Be Controlled by Me’
President Donald Trump announced on Tuesday that he would personally control revenues from Venezuelan oil sales following the U.S. invasion of Venezuela on Saturday, which resulted in the capture of President Nicolás Maduro and his wife. In a Truth Social post, Trump stated he would oversee the sale of 30 to 50 million barrels of Venezuelan oil at market price, declaring “that money will be controlled by me, as President of the United States of America.” Trump instructed Energy Secretary Chris Wright to execute the plan immediately, with oil to be transported by storage ships to U.S. unloading docks.
Trump explicitly tied the military invasion to resource extraction and corporate profit, stating the day after the operation that the administration’s priority was to “fix up the oil” and “have total access” to Venezuela’s resources. He indicated that oil companies had been alerted to his plans prior to the invasion, saying “They want to go in and they’re going to do a great job for the people of Venezuela and they’re going to represent us.” Trump acknowledged that major oil company investments would be required to rebuild Venezuelan infrastructure, positioning private corporations as the primary beneficiaries of military intervention. Trump has separately indicated that U.S. taxpayers may reimburse oil companies for reconstruction costs.
The announcement directly contradicts Trump’s stated rationale for the invasion—that military action was undertaken to benefit the Venezuelan people—by placing personal control of oil revenues in presidential hands rather than under Venezuelan governance or international oversight. Oil stocks surged immediately following Trump’s declaration that his administration would “run” Venezuela for the foreseeable future, signaling market confidence in corporate access to Venezuelan resources.
The Trump administration has simultaneously expanded U.S. military presence across Latin America and the Caribbean through security agreements, enabling armed operations under the pretext of counternarcotics efforts while simultaneously conducting resource extraction operations.