Trump Touts Venezuela Oil Deal at Texas Port, Touts "Drill, Baby, Drill!"

President Donald Trump announced a new arrangement to import and refine Venezuelan crude oil during a speech at the Port of Corpus Christi. He cited increased U.S. oil and natural gas production since his inauguration and pointed to lower local gasoline prices. Trump credited federal funding for modernizing the port, which he called a major global energy export hub. He also linked reliable energy supply to the growth of artificial intelligence technology.

Key Points: Trump Announces Venezuela Oil Deal at Corpus Christi Hub

  • New Venezuela crude oil import deal
  • U.S. oil production up 600k barrels/day
  • Gasoline prices falling in Texas
  • Port modernization fueled jobs
  • Links energy to AI growth
3 min read

Trump spotlights Venezuela oil at Texas hub

President Trump highlights a new oil arrangement with Venezuela and U.S. energy production gains during a speech at the Port of Corpus Christi.

"For the benefit of both our nations, we're going to refine their oil right here in America and right here in Texas. - Donald Trump"

Washington, Feb 28

US President Donald Trump spotlighted a fresh oil arrangement with Venezuela during remarks at a major Texas export hub, arguing that expanded refining and exports from Corpus Christi signal what he called a historic American energy revival.

Speaking at the Port of Corpus Christi, which he described as "one of the largest energy export hubs anywhere in the world," Trump said his administration had acted swiftly on energy policy. "On day one, I declared a national energy emergency. I ended the Biden export ban. And I told our great Texas energy workers to very simply drill, baby, drill!"

He claimed production gains since returning to office. "Since my inauguration, US oil production is now up by 600,000 barrels a day." He added: "Natural gas production is at an all-time record high by far."

Trump also pointed to lower fuel prices. "Today, right here in Corpus Christi, the price of gasoline is down to just less than actually, now $2.30," he said. Referring to a recent visit, he added: "$1.99. And then, I passed another one $1.85. It's happening."

A central focus of his speech was Venezuela. Indicating a tanker near the dock, he said: "In fact, 360,000 barrels of Venezuelan crude are right now sitting in the tanker on my left." He described Caracas as a "new friend and partner" and said, "For the benefit of both our nations, we're going to refine their oil right here in America and right here in Texas and then export it all over the world."

He argued the arrangement would benefit both countries. "It's great for Venezuela, and it's great for us," he said, adding that "a lot of it comes right here."

Trump credited federal investment during his first term for the port's expansion. "In my first term, I approved vital federal funding to deepen the channel and fully modernise the Port of Corpus Christi," he said, adding that companies had since created "tens of thousands of jobs."

Port Corpus Christi asset management director Jesse Robinson called the moment "an irrefutably historical moment," and said he had seen "the millions of dollars in federal funds invested in infrastructure that helps us serve our customers so they can then turn and serve the communities around the world."

Marine Corps veteran Kevin Rose said recent tax changes had helped his family. "With the legislation that has been passed with no tax on overtime, we were able to buy a commercial refrigerator for our business," he said, adding that his family planned to take their children on a trip.

Trump also linked energy supply to artificial intelligence growth, saying big technology companies must build their "own power plant" so they are "no longer taking out of the community." He called the requirement "mandatory."

National Border Patrol Council president Paul Perez praised the administration's broader record, telling supporters: "President Trump is the best president in the history of this country. Prove me wrong."

- IANS

Share this article:

Reader Comments

P
Priya S
"Drill, baby, drill" might work for the US, but it's a reminder for India. We need to accelerate our own transition to renewables while managing existing resources. Can't just follow this model. Our solar and wind potential is huge – that's our real "energy revival".
A
Arjun K
The part about AI companies building their own power plants is actually a smart point. India's data centre boom will need massive, reliable power. We should plan for that infrastructure now, not later. Green energy for tech hubs should be a national priority.
S
Sarah B
As someone who follows global energy markets, this Venezuela deal is purely transactional. Calling them a "new friend" is political talk. It's about securing supply and undercutting other producers. India should watch this space for potential better deals on crude.
V
Vikram M
Gas at $1.85? Yaar, just imagine that price at our pumps! 😅 While the US focuses on exports and production, our immediate concern is bringing down prices for the common man. Hope some of this increased global supply translates to relief for Indian households.
K
Kavya N
The article mentions "tens of thousands of jobs" created. That's the real lesson for India. Energy policy isn't just about barrels and rupees; it's about livelihoods. Our investments in refining, ports, and green tech must be equally focused on job creation for our youth.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50