Jarrod Agen, executive director of the National Energy Dominance Council, discussed the Trump administration's push for new oil investment in Venezuela on Monday.
These strategic shifts come as the U.S. attempts to stabilize global energy markets amid escalating tensions with Iran and rising costs for American consumers.
Agen said the administration is promoting U.S.-backed oil deals in Venezuela. International companies are currently closing agreements in the country worth billions of dollars [3] under U.S. management.
The adviser also addressed the energy fallout resulting from the ongoing conflict with Iran. Oil prices jumped $3 per barrel [1] on Monday following a disagreement between the U.S. and Iran over a peace proposal. Brent crude rose to $118 per barrel [2] after President Trump said he would blockade Iran until the nation agrees to a nuclear deal.
These geopolitical disruptions have direct implications for the domestic market. Agen said gasoline prices could climb toward $5 per gallon as a result of these instabilities.
Beyond the economic impact, Agen discussed the potential for democratic elections in Venezuela. The administration is linking energy strategy with political goals to ensure long-term stability in the region, a move intended to secure oil flows while promoting democratic governance.
The National Energy Dominance Council continues to manage the intersection of foreign policy and energy security to mitigate the risk of price shocks at the pump.
“International companies are closing oil deals in Venezuela worth billions of dollars”
The administration is attempting a high-stakes balancing act by leveraging Venezuelan oil to offset the supply risks created by its hardline stance toward Iran. By facilitating billions in private investment in Venezuela, the U.S. seeks to create a strategic buffer against the price volatility caused by the Iranian blockade, though the effectiveness of this strategy depends on the political stability of the Venezuelan government.
