- White House is partnering with North American Blue Energy Partners to develop Venezuelan oil, giving the Pentagon a 35% stake and the U.S. a right to buy 20% of output at cost.
- The deal grants 100-year rights to 17 fields (about 65 billion barrels) with $100 billion in promised investment, but reviving production could take years.
- Lawmakers and experts are skeptical about using the military in a private oil venture; the administration says the plan could eventually help lower U.S. gas prices.
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