Trump's Venezuelan oil move isn't hypocrisy — it's genius strategy to crush China and Russia |
Continental Resources chairman Harold Hamm discusses the U.S.' interest in Venezuela's vast oil reserves and more on 'Kudlow.'
At first glance, it looks like a contradiction — and the left is quick to call it a moral failure.
America is swimming in oil, yet President Donald Trump has moved to bring Venezuelan crude into U.S. refineries. If the United States is energy-independent, they ask, why buy oil from Venezuela at all? After years of sanctions and pressure on Caracas, isn’t this hypocrisy?
The answer is no. It’s strategy. And it starts with a basic fact too many commentators ignore: America has plenty of oil — just not always the right kind.
The shale revolution, powered by fracking, transformed U.S. energy production. It flooded global markets with light, sweet crude and made the United States the world’s leading oil producer. That achievement strengthened national security and broke the old OPEC cartel’s grip.
VENEZUELA REOPENS OIL WELLS AND RESUMES CRUDE EXPORTS FOLLOWING TRUMP ADMINISTRATION POLICY CHANGES
A pump jack stands near an oil spill at a Petroleos de Venezuela SA (PDVSA) facility in the Orinoco Belt of El Tigre,........