- Oil has long defined Venezuela’s identity and politics — people see the nation’s vast reserves as belonging to the public, not companies or foreign powers.
- Acting President Delcy Rodríguez agreed to give the U.S. control of roughly one-fifth of Venezuela’s oil reserves (100-year rights to 17 fields), a move many Venezuelans call a surrender.
- The agreement could bring billions and badly needed investment to wrecked infrastructure and jobs, but locals are divided — hopeful for recovery yet worried about loss of sovereignty.
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