Opinion by Mathew Carr

Dec. 22, 2025 — Donald Trump has found a new way to rig the market for crude oil.

Comandeering Venezuela vessels does not only breach morality and laws of the sea, it steals the ability of Venezuelans to monetize their assets (oil cargoes).

It pushes crude prices higher as OPEC+ is beginning to fail in its ability to “protect the oil price” as a global glut expands.

Protecting the oil price actually means drivers are being stolen from, too. It’s a transfer of wealth to fossil fuel giants from the people of America, as well as from drivers from the rest of the world.

Higher-than-needed oil prices make everything that must be transported or energized more expensive.

America is the world’s biggest petro state and petro dollars are also crucial in supporting America’s USD ecosystem by providing key “baseload” demand.

Because the oil market is in US dollars, buyers have to buy USD BEFORE they buy crude.

This USD abuse is another way that America steals from the rest of the world in an institutional way.

Of course the mainstream media never report oil’s role in US hegemony as corruption, but the corruption in crude hurts Americans, and people in general, in multiple ways.

Not only is your air more polluted, your wallet is emptier, your climate is ruined and your insurance costs are skyrocketing.

Thanks, Mr Trump.

With Trump and the media behaving in this way, the US oil industry thinks it is a normal sector, when, in reality, it’s creating increased death rates across the world, while acidifying the oceans.

High oil prices boost investment in the dirty, climate-killing fuel. This new money will naturally expand the damage into future decades and hurt everyone’s children.

US shale oil producers require high oil prices ….and those prices are evaporating. It’s outrageous that in 2025, the US is not encouraging a wind down of this industry.

The world’s most enormous petro state has also stolen a vastly unfair portion of the global carbon budget (–the notion backed by science that there is a limited room for ghg in the atmosphere is almost completely ignored by the self-interested mainstream media…who are not acting in the interests of their customer readers, at all. They appear to be supporting the climate death and market rigging, to continue to win favor/advertising revenue from bad industries.).

A clear indication that Trump’s interest in Venezuela is about self interest and fossil fuel money is the treatment of America’s Chevron Corp.

It’s trade from Venezuela seems to be allowed, with Trump’s vessel grabbing restricted to those shipments to Asia/China. Chevron’s Venezuela operations were hurt earlier this year, but the “offending sanctions” were reversed. See below.

Trump is showing he has control of a powerful military-backed petro state that can rig markets, hurt the environment, protect the USD and damage the finances of everyone on earth except fossil-fuel investors.

And he’s not afraid to use it, because hardly anyone is pushing back.

(more to come)

Notes

ChatGPT unchecked:

Here’s a current picture of whether Chevron has been hurt by recent Trump-era actions related to Venezuela, based on reporting and public information:

✅ Direct evidence Chevron has been hurt

Some actions did negatively affect Chevron’s business in 2025:

In March 2025, the Trump administration revoked or terminated a US Treasury license that had allowed Chevron to operate and export Venezuelan crude, forcing it to wind down core activities there. This effectively curtailed Chevron’s oil output and exports from Venezuela early in the year.  Government documents indicate Chevron’s operations were required to wind down, meaning output declined or became restricted for part of 2025. 

These are concrete policy moves that reduced Chevron’s ability to produce/export oil from Venezuela, which historically had been one of its few permitted activities in that sanctioned market.

✅ But evidence of long-lasting damage is mixed

More recent developments show Chevron is still operating in Venezuela:

In mid-2025, the administration licensed Chevron again to resume oil production and export to the United States under a new authorization.  That suggests the initial hit from revoking the license was partially reversed, and Chevron’s Venezuelan business hasn’t been shut down entirely.

On actual operations:

Industry data reported that tankers carrying Chevron-related Venezuelan oil were still departing toward the U.S., even amid a broader U.S. blockade of other sanctioned oil flows.  This implies Chevron’s output and shipments — while constrained — were continuing.

⚠️ Indirect impacts and risks

Even if Chevron hasn’t been obliterated financially, there are tangible pressures:

Sanctions

and enforcement make logistics and pricing volatile, with reports (e.g., from traders and analysts) suggesting Chevron may have adjusted prices to reflect geopolitical risk after tanker seizures and U.S. actions. 

Regulatory uncertainty and ongoing U.S. sanctions policy make planning difficult, as Chevron executives themselves have publicly called for more consistent legislation.  Broader U.S. crackdowns on Venezuela oil exports could affect global heavy crude markets and indirectly influence Chevron’s margins and market access.

📌 Summary

Yes, there is evidence Chevron was hurt by Trump-era Venezuela actions, especially earlier in 2025 when its Venezuelan operating license was revoked and it had to wind down until a new authorization was issued. 

However, more recent reporting suggests:

Chevron is still operating in Venezuela under new terms.  Its business hasn’t collapsed — it continues to produce and export oil. 

Here’s a **data-oriented picture of how Chevron’s Venezuelan operations have actually been affected by the Trump administration’s recent actions (especially sanctions and licensing changes) — including specific production and revenue figures where available.

📊 Production & Export Figures (2025)

Chevron’s output contributions

Industry sources report Chevron and its joint ventures operating in Venezuela have been producing around ~300,000 barrels per day of crude, or about ~1/3 of Venezuela’s total oil production when allowed under a U.S. license.  Note: That’s significant for Venezuela’s output, but less than 10% of Chevron’s global production, which means it’s material locally but small for Chevron overall. 

Export limitations under new U.S. authorization

Under the newer U.S. license terms in place for much of 2025, Chevron’s exports were reported at about half of what its joint ventures produced — partly because the rules restricted how much crude it could send for cash versus in-kind tax/royalty payments.  This means actual export volumes were suppressed relative to production, reducing revenue potential.

Historical context from SEC filings

Chevron’s own 2025 SEC financial filing notes that: Until March 2025, Chevron had limited activities in Venezuela under U.S. licenses. Those operations had contributed to company results when oil was lifted and cash received. But in early 2025, new licenses required Chevron to wind down activities by late May 2025, and oil liftings had “recently been halted” at that point in the filing. 

💰 Revenue & Financial Impact

Contribution to Chevron’s results

Chevron’s **Venezuela business historically accounted for a small share of overall cash flow — less than 3% of operating cash flow in 2024.  That means even if Venezuelan operations stopped or were limited, the direct impact on Chevron’s overall results was small compared with its global portfolio.

Reduced export earnings

Because of export restrictions and limits on cash payments to the Venezuelan government, Chevron’s actual revenue from Venezuelan crude was constrained in 2025 compared with what it could have been under full export conditions. 

Partial recovery with new license

By mid-late 2025, a new U.S. authorization allowed Chevron to resume Venezuelan exports (though under restricted terms), helping stabilize shipments to U.S. Gulf Coast refiners. 

🛢️ Context: Overall Venezuelan Output

Even with Chevron present:

Venezuela’s total oil production hovered around ~900,000 to 1,080,000 barrels per day in 2025, suggesting state production and other factors kept flows relatively steady despite sanctions. 

Chevron’s share of this:

Given Chevron’s ~300,000 bpd output under its license and restrictions, it was a significant portion of legally exported oil, but not the majority of total Venezuelan production. 

Thus, even before Trump’s later December 2025 blockade actions, Chevron’s operations were important locally but not dominant globally.

📉 Impact Summary: What the Data Shows

✔ Production Impact

Chevron did see its Venezuela production curtailed when a U.S. operating license was revoked early in 2025, and wind-down requirements effectively stopped exports for a period. 

✔ Export & Revenue Impact

Export volumes were halved or limited under new U.S. licensing terms, reducing associated revenue potential.  Venezuela contributed less than ~3% of Chevron’s operating cash flow in 2024 — meaning the company could absorb this cut without major financial stress. 

✔ Partial Rebound

Later in 2025, Chevron resumed limited operations and exports, which stabilized its Venezuelan oil activity (though still restricted). 

✔ Global Relevance

These operations are significant for Venezuela’s economy but small relative to Chevron’s global business.

📌 Bottom Line

*Yes — there is concrete evidence Chevron’s Venezuelan operations were hurt:

Production had to wind down due to altered U.S. licenses. Export volumes and revenue potential were restricted. Operations were legally curtailed for months.

…but the financial impact on Chevron’s overall results has been limited so far — because:

Venezuela made up a small share of total cash flow, and Chevron has been able to resume restricted operations later in 2025.