Marco Rubio Destroys the ‘Trump is Exploiting Venezuela’ with the Oil Deal Narrative [WATCH]

Secretary of State Marco Rubio defended U.S. involvement in Venezuela’s energy sector, arguing that a partnership with the United States would put the country’s oil resources to more productive use while generating revenue that could ultimately benefit the Venezuelan people.

Rubio addressed concerns about the United States playing a larger role in energy development across the Western Hemisphere by pointing to the previous involvement of China, Russia and Iran in Venezuelan oil fields.

“No. Well, what I would say to anyone who’s concerned that the US is doing something negative towards the Western Hemisphere as regards to energy is those oil fields were once dominated by China and Russia,” Rubio said.

“And Iran, by the way, Iran also had some concessions, and they’re no longer there.”

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Rubio presented the choice as one between working with the United States and relying on countries he described as American and Venezuelan adversaries.

He argued that Venezuela stands to gain economically from closer cooperation with the United States.

“So I think they’re much better off partnering with the United States, they will benefit greatly from it,” Rubio said.

Venezuela has long maintained substantial state control over its petroleum industry, with foreign companies participating through arrangements involving the country’s energy sector.

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China and Russia have also had significant financial and energy relationships with Venezuela over the years.

Rubio said some of the oil fields previously held by Chinese and Russian companies had failed to produce meaningful results.

Under a different arrangement, he said, those assets could begin producing oil and generating income.

“These fields were, in many cases, non-productive,” Rubio said.

“In essence, the the Chinese and Russian companies held these fields, but never turned them into anything.”

The secretary said increased production would create royalties and other revenue connected to Venezuela’s resources.

He argued that the goal should be for those proceeds to reach Venezuelans rather than government officials or foreign adversaries.

“These fields are going to be productive, and they’re going to generate royalties and revenues for the Venezuelan people, eventually through a democratically elected government, hopefully sooner rather than later,” Rubio said.

The question of foreign participation in Venezuela’s oil industry has been tied to the country’s political and economic situation for years.

The United States previously imposed extensive sanctions affecting Venezuela’s petroleum sector, while earlier U.S. policy also connected sanctions relief to steps toward competitive elections.

Rubio’s comments focused on what he sees as the potential economic benefit of replacing the influence of China, Russia and Iran with American cooperation.

Rather than leaving fields undeveloped, he argued, increased production could turn those resources into a source of income for Venezuela.

His argument also centered on who ultimately receives the financial benefits generated by the country’s oil.

Rubio said the revenue should reach the Venezuelan population through a future democratically elected government instead of being diverted elsewhere.

The secretary concluded by contrasting that outcome with a system in which Venezuela’s resource wealth could benefit corrupt officials or governments hostile to both the United States and Venezuela.

The objective, Rubio said, is for the revenue to “directly benefit the people of Venezuela as opposed to going into the pocket of some you know, corrupt government official or in the hands of American and Venezuelan adversaries, really.”

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