Biden Admin Allows Chevron To Pump Oil In Communist Venezuela

The Treasury Department on Saturday issued Chevron a new license that would allow the massive oil company to pump oil in Venezuela, easing sanctions on the communist country as the price of gas remains elevated.

The license, issued by the Office of Foreign Assets Control (OFAC), will allow the company to produce oil in Venezuela by taking part in joint ventures with the state-owned oil company Petróleos de Venezuela, according to a Treasury Department press release. The department issued the license after Venezuelan President Nicolás Maduro and the Unitary Platform, a coalition of opposition parties, agreed to carry out a humanitarian program and pursue talks to hold “free and fair elections.”

“What they’re really trying to do is drive more and more of the U.S. oil industry offshore, into the arms of other countries,” Institute for Energy Research Senior Vice President Dan Kish told the Daily Caller News Foundation. “I don’t blame Chevron … it’s already hard for them to pump oil in the U.S.”