Wright Western Hemisphere belongs to America
par Jolyon: Face The Nation
So when the question came up about whether U.S. investment in Venezuelan oil squares with American energy independence, U.S. Energy Sec. Wright's reply started with a pretty sweeping claim: the Western Hemisphere, he said, belongs to America. From there he framed the deal as costing U.S. taxpayers nothing, while the country gets discounted oil and a stake in some Venezuelan production. He also pointed out Venezuela benefits through investment and jobs. His full remarks mention drawing foreign capital, mostly American, to grow production, lift incomes, and bring down energy prices stateside. He called the whole thing a classic win-win business deal. But that first line kind of hangs there, does he really mean the entire Western Hemisphere is now U.S. territory?
Transcription (en)
How is U.S. investment in Venezuelan oil production consistent with American energy dominance and independence? Well, first of all, it's the Western Hemisphere. It's America's. And the great thing about this deal the United States did, no cost, zero cost to American taxpayers. But we're going to we're going to get massive amounts of discounted oil price and ownership interest in some production there. But it's a win for Venezuela as well because it helps the investment climate to draw more and more foreign capital in, mostly American capital, but from elsewhere around the world to grow their production, lift the incomes and job opportunities for Venezuelans and lower energy prices for the United States. A classic win-win business deal.
