Watch American Oil Companies Make Venezuela Great (and Rich) Again: Doug Burgum [WATCH]

Doug Burgum praised President Donald Trump’s leadership in foreign policy and energy policy, saying recent actions abroad were only possible because of what he described as strategic planning and execution tied to American energy dominance.

“At the top level. Of course, this is none of this is possible without commander in chief, President Trump,” Burgum said.

“Strategically brilliant. And then, of course, the breathtakingly excellent execution, not only of something like when we were bombing Iran earlier and taking out their nuclear program, or here removing a head of a criminal organization, Maduro, also posing as a president, doing that with flawless execution.”

Burgum said those actions did not lead to disruptions at home because of the United States’ energy position.

“All of that’s only possible because President Trump had the foundation of having a policy of energy dominance, and the fact that America can take these actions against countries that have these large reserves, and we see virtually no change at the price of the pump here in America,” Burgum said.

He attributed that stability to domestic production and industry performance.

“Reflects the great strategy and the great execution of the American oil and gas industry, American energy industry, and President Trump,” he said.

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Burgum then discussed what he described as the relationship between Venezuelan oil and U.S. refining capacity.

“But in case of the synergy between Venezuela heavy crude, the refineries that we have on the south coast and the Gulf of America, which were built to handle that and then you need to dilute that heavy crude with a lighter product,” Burgum said.

He said U.S. production provides the necessary blending resources.

“And of course, we have an excess of that lighter product here, because the shale oils that come out of the shale revolution in America are perfect for blending to achieve this,” he said.

Burgum said the combination benefits multiple sectors.

“So if you’re in the refining sector, this is great news. It’s great news for jobs. It’s great news for gas prices going forward. It’s great news for America, and it’s great news for Venezuela,” he said.

He said Venezuela now has an opportunity to rebuild its economy.

“Because Venezuela has an opportunity now to actually have capital come in and rebuild their economy and take advantage of the fact that they’ve got a larger they have larger oil reserves in Saudi Arabia,” Burgum said.

He contrasted Venezuela’s resources with its economic condition.

“Saudi Arabia, one of the richest countries in the world. Venezuela, one of the poorest countries in the world,” he said.

Burgum said that outcome could change through cooperation.

“Doesn’t have to be that way with American technology, American partnership, this Venezuela can be transformed,” he said.

He concluded by describing broader benefits.

“And that’s a win for this hemisphere. It’s a win for the people of Venezuela,” Burgum said.

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