The U.S. Department of Energy (DOE) announced on Friday that the U.S. government is not currently considering a proposal to utilize Venezuelan oil. This potential plan, involving an exchange with U.S. oil companies, aimed to replenish the nation’s Strategic Petroleum Reserve (SPR). The DOE’s statement followed an earlier Reuters report from the same day. That report cited two sources. They claimed the Trump administration had explored such an initiative.
Government Denies Venezuelan Oil Plan
The Department of Energy’s clear statement on Friday directly addressed recent speculation. Officials confirmed the U.S. government has no current plans for using Venezuelan crude. This denial specifically targeted a potential scheme. The scheme would have involved trading Venezuelan oil with domestic companies. Such an exchange aimed to bolster national energy reserves.
Strategic Petroleum Reserve Refill
The proposed initiative focused on refilling the Strategic Petroleum Reserve (SPR). This national reserve’s replenishment formed the central goal. The plan envisioned a specific exchange mechanism. U.S. oil companies would have received Venezuelan oil. They would, in turn, deliver oil to the SPR. However, the Energy Department has now clarified its position.
Earlier Reuters Report Detailed Proposal
The Energy Department issued its denial after an earlier Reuters report. Published on Friday, this report detailed the speculative plan. It cited two informed sources. These sources indicated the Trump administration had explored the initiative. The previous administration reportedly considered delivering Venezuelan oil for the SPR. The Reuters article brought the proposal into public discussion.
Current Administration’s Position
The current U.S. government has explicitly stated its stance. It is not now considering any such arrangement. This clarification puts an end to recent speculation. The Department of Energy emphasized the “not currently considering” aspect. This indicates a definitive position regarding Venezuelan oil for the SPR.
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