Javier Palomarez, USHBC President & CEO, Welcomes U.S.-Venezuela Oil Deal for American Energy Security

WASHINGTON, DC, UNITED STATES, September 2, 2026 /EINPresswire.com/ -- The United States Hispanic Business Council (USHBC) welcomes the recently announced U.S.-Venezuela oil agreement as an important step toward strengthening American energy security and rebuilding economic ties with Venezuela and across the Western Hemisphere. The agreement covers 17 Venezuelan oil fields and gives the United States preferential access to a portion of the North American Blue Energy Partners’ (NABEP) production. NABEP has announced plans for substantial private investment in Venezuela’s oil infrastructure.

At a time when the national average price of gasoline exceeds $4 per gallon and diesel averages more than $5.60, energy affordability is a serious concern for American businesses and families. This agreement offers a pragmatic step toward strengthening American energy security. Many U.S.-based Gulf Coast refineries are well suited to process Venezuela’s heavy crude, and additional production could increase utilization of domestic refining capacity, while also providing another source of crude from the Western Hemisphere and supporting the replenishment of the Strategic Petroleum Reserve. Such benefits would extend beyond the oil and gas industry, as reliable energy is needed to move goods, power farms and factories, keep construction sites and delivery fleets operating, and serve as an essential material throughout several manufactured and processed products. Small businesses often have the least room to absorb sudden increases in fuel, shipping, electricity, and other input costs. The wars in Ukraine and Iran have strained global energy markets and contributed to emergency drawdowns from the Strategic Petroleum Reserve.

Javier Palomarez, USHBC President and CEO, issued the following statement:

“Energy is the lifeblood of the American economy. Energy-market disruptions raise costs through every warehouse, jobsite, storefront, shipping route, and household. I commend President Trump, Secretary Rubio, and Secretary Hegseth for pursuing a long-term source of crude in the Americas at a moment of global volatility. Pairing private capital and industry expertise with American refining capacity could strengthen our strategic position and better protect the American economy from future price shocks.”

The USHBC encourages the Administration and Congress to work with American energy producers and refiners, investors, workers, and small-business stakeholders to implement the agreement responsibly. A durable framework should provide transparent accounting and strong oversight of federal commitments, protect taxpayers, complement domestic energy production and investment, strengthen hemispheric energy security, and support American refining and its extensive supply chains. The USHBC will continue to champion an all-of-the-above energy strategy that recognizes reliable oil and gas production as essential to the affordable, secure energy supply Main Street needs to compete, hire, and grow.

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About the USHBC
Javier Palomarez is the President & CEO of the United States Hispanic Business Council (USHBC). The USHBC is a leading voice for the small business community. A 501(c)(6) nonprofit organization, the USHBC focuses on the success of American small businesses by ensuring they have a voice in the national dialogue. The USHBC is a nonpartisan organization.

Katherine Machado O'Hara
The Oxígeno Project
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