USHBC backs U.S.-Venezuela oil deal as energy security move

The United States Hispanic Business Council is backing a new U.S.-Venezuela oil agreement, saying it could help lower energy costs, support domestic refineries and strengthen U.S. supply security. The deal covers 17 Venezuelan oil fields and gives U.S. access to part of North American Blue Energy Partners’ production.

Why it matters: - The United States Hispanic Business Council says the U.S.-Venezuela oil agreement could improve American energy security at a time of elevated fuel prices. - The group says the deal could help U.S. refineries process more heavy crude, support supply from the Western Hemisphere and aid replenishment of the Strategic Petroleum Reserve. - The council argues the agreement could also help businesses absorb lower energy and shipping costs, especially small businesses with limited room for price shocks.

What happened: - The USHBC welcomed a recently announced U.S.-Venezuela oil agreement on Sept. 2, 2026. - The agreement covers 17 Venezuelan oil fields. - The deal gives the United States preferential access to part of North American Blue Energy Partners’ production. - North American Blue Energy Partners has announced plans for substantial private investment in Venezuela’s oil infrastructure. - Javier Palomarez, USHBC president and CEO, praised President Trump, Secretary Rubio and Secretary Hegseth in a statement supporting the agreement.

The details: - U.S. gasoline averages more than $4 per gallon, and diesel averages more than $5.60, according to the release. - Gulf Coast refineries are well suited to process Venezuela’s heavy crude. - Additional production could raise utilization of U.S. refining capacity. - The release says the wars in Ukraine and Iran have strained global energy markets and led to emergency drawdowns from the Strategic Petroleum Reserve. - The USHBC says reliable energy is needed to move goods, power farms and factories, keep construction sites and delivery fleets operating, and support manufactured and processed products. - The council urged the administration and Congress to work with energy producers, refiners, investors, workers and small-business stakeholders to implement the agreement responsibly. - The USHBC said a durable framework should include transparent accounting, strong oversight of federal commitments, taxpayer protection, support for domestic energy production, hemispheric energy security and American refining supply chains.

Between the lines: - The endorsement fits the USHBC’s broader push for an all-of-the-above energy strategy. - The group is framing foreign oil access as a way to reinforce, not replace, domestic energy production. - The statement also reflects a business-focused argument: energy policy affects freight, manufacturing, agriculture and retail costs far beyond the oil sector.

What's next: - The USHBC wants the administration and Congress to shape implementation with industry and small-business input. - The council says it will keep advocating for oil and gas production as part of an affordable and secure energy mix. - The release directs readers to visit ushbc.com/join for membership information and to follow @myushbc and @JPalomarez on X. - The release also lists social links for the USHBC on LinkedIn, Facebook and X.