Mysterious billionaire shows off ‘America’s oil’ — and Trump’s Venezuela

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Mysterious billionaire shows off ‘America’s oil’ — and Trump’s Venezuela

*Alejandro Betancourt, president of North American Blue Energy Partners, stands among chemical barrels in the company’s new headquarters in Zulia, Venezuela, last month. (Andrea Hernández Briceño/For The Washington Post)*

A visit to the petroleum-rich Orinoco Belt revealed a nascent U.S.-backed oil empire in a vassal state where officials once railed against the imperial north.

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By Anthony Faiola

CABIMAS, Venezuela — His helicopter buzzed the wells of Lake Maracaibo as Alejandro Betancourt — the secretive 46-year-old billionaire anointed by the Trump administration to be Venezuela’s new petroleum king — smiled and theatrically spread his arms.

What readers are saying

The comments express strong criticism of Donald Trump's involvement in a controversial oil deal with Venezuela, accusing him of corruption and self-enrichment at the expense of both American and Venezuelan citizens. Many commenters liken the situation to colonialism and... Show more

This summary is AI-generated. AI can make mistakes and this summary is not a replacement for reading the comments.

* Evan Halper , Anthony Faiola , Samantha Schmidt and Karen DeYoung Trump said his deal with Venezuela would lower gas prices. Will it? September 1, 2026
* Samantha Schmidt and Helena Carpio Venezuela vowed not to ‘hand over’ its oil. Trump aims to grab a windfall. August 30, 2026
* Evan Halper , Karen DeYoung , Anthony Faiola and Samantha Schmidt Trump says he has secured a vast U.S. stake in Venezuelan oil industry August 28, 2026
* Evan Halper Chevron makes its own deal to double Venezuelan production September 2, 2026
* Analysis Amber Phillips The U.S.’s many foreign entanglements under Trump September 1, 2026
* Ana Vanessa Herrero and Samantha Schmidt In Venezuela, change is coming fast. Relief is taking more time. February 2, 2026

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