Trump Runs as Truth About His Phony Oil Deal Requiring $100 Billion & Decades of Work Comes to Light

0:00Michael Popok:You and what$100 billion you wrote in on is going to lower gas prices before midterms 2026 or midterms 2036. Because there's new estimates that it's going to cost$100 billion to develop those 17 oil fields that Donald Trump wants to take a U.S. ownership stake in. And where's the$100 billion coming from? And it's not going to turn on the spigots of oil tomorrow and replenish our reserves or lead to lower gas prices because the 17 oil fields that apparently Donald Trump has grabbed turned over to a shadowy figure named Alejandro Betancourt. They don't even have running water. They don't even have electricity.

0:46They don't even have infrastructure. They're not a day away. They're not a year away. They are decades away from producing oil at a cost of$100 billion. Donald Trump will be long gone. And of course, while the political rhetoric is trying to prop up this hothouse flower in order to get some sort of political dividends for the midterms, the reality is nobody wants to invest in these 17 oil fields. These are white elephants that nobody wants to invest in, except Donald Trump strapped them all together, put a guy named Alejandro Betancourt in charge of them. They're so bad that the major oil companies like Chevron and ConocoPhillips, they're staying away from these oil fields.

1:36These are the ones Donald Trump wants you and I to put our dollars in, wants to give an

1:39Michael Popok:ownership stake in for the Department of Defense. You and$100 billion. I'm Michael Popok. Let's get to the bottom of this Potemkin village, if you will, of false hope about this Venezuelan takeover. See, Trump apparently was getting a little bit annoyed that the Americans and the American petroleum companies were focused on other oil fields, which they are. They're signing oil and gas leases throughout Venezuela to make themselves and their shareholders money. But they're not pumping the oil into America. See, this deal with Alejandro Betancourt's company, the North American Blue Energy Partners, is supposed to give America 20 % of the oil production at cost, but it's going to be$100 billion to invest in it.

2:37And where is that going to come from? The U.S. government? U.S. government, we have$100 billion, a tenth of a trillion dollars to invest in Venezuela? I don't think so. The private sector is not investing either because they're investing in other more immediately productive oil fields and oil reserves in Venezuela. See, these 17 oil fields that you keep hearing about, they are not even provable reserves, meaning they haven't even established that these have proven reserves that it's even worth drilling in. You could drill there and find out it's dry, that there's nothing there. But they're going to strap them all together.

3:18The promoters like Alejandro Betancourt are going to make a ton of money. This is a guy, by the way, who is an unindicted co-conspirator in a money laundering scheme to rip off Venezuela. Okay? It was also the subject, I think, of an Interpol red card or other international arrest warrant. And this is the person that we're going to do business with. Where's the$100 billion coming from? This is much like Donald Trump's, oh, we're going to take over Iran. We're going to take over the Strait of Hormuz and it's going to lead to lower oil prices. Is that what's happening? Is that what we're watching?

3:52Or are we watching the oil prices continue to rise? We're now at$86 a barrel of Brent oil today, heading back towards$100. We got the stock market depressed. We got the oil market up because traders in the oil business are not happy with what's happening in Iran. And no, 17 potentially empty and dry oil fields in Venezuela that need$100 billion worth of investment are not making them happy or feel like we don't have an oil problem.

4:25Michael Popok:Trump has drained our reserves, has no legitimate way to refill them, is also fighting a war of attrition with Iran, and we're losing the war of attrition with our ammunition and munitions dwindling, our missile defense system dwindling in capacity, so bad so that we are emboldening and empowering Russia and Vladimir Putin to consider attacking NATO. Hence the reason we sent the head of the CIA to try to tell Putin, don't attack NATO. Like a crooked finger is going to really tell Putin not to try to expand his empire. So when I first did the reporting about what's going on in Venezuela, I'm like, oh, there's a big deal announced, just like a big deal announced in Iran and a big deal announced with the tariffs and a big deal announced with everything else of Donald Trump's follies.

5:20Michael Popok:You know who suffers from these follies when they collapse? The American people. That's why we're calling to put the Trump administration out of our misery come the midterms. When you hear about, and this is how the press reports on it, 17 oil fields, you know, going to invest in a company called North American Blue Energy, and the Defense Department's going to get a stake in it. 20 % of the oil reserve is going to go to the Americans at cost. I'm like, well, that's interesting. What's more interesting is these are unproven reserves that don't have any infrastructure and need$100 billion investment just to find out if they have oil or not.

5:57Michael Popok:And this is the Ponzi scheme that Donald Trump wants us to invest our taxpayer dollars in. It's not going to help him and his electoral fortunes. It's not going to help the Republicans and MAGA at the midterms. And it's not going to help you and me in our affordability crisis or at the gas pump. Like I said at the top of this hot take, I don't even think this is a midterm 2036 event in terms of seeing these wells, these oil fields producing gushing oil like in a movie that's going to bring relief to America anytime soon. and we're propping up a Maduro-lite dictatorship in Venezuela, throwing away all of our morals and values in order to get our hands on their oil and other oil fields.

6:56Michael Popok:And again, I'll ask the same question at the end that I asked at the beginning. Where's the$100 billion come from? They talk about 65 billion barrels are going to come out of these 17 oil fields. When? In what decade or century is that going to happen? Don't fall for it. It's just a ruse to announce something that's a shiny object before the midterms. And we're not going to allow it. Just like him continuing to screw with Iran and the rest of the global economy in the Strait of Harmuz and attacking Iran again has left the financial markets in shambles. Nobody can keep up with this lack of planning, with this erratic behavior of the presidency at all.

7:47Michael Popok:We're going to continue to follow it, of course. You're on Legal AF and Legal AF YouTube channel. Do me a personal favor. People ask, how can we support what you do? It's really simple. There's a button. It's a subscriber button. You may think you're subscribed. I don't think you are. We get, and this is a testament to our audience, we get 40 million views of our work here on this channel every month. 40 million. Okay? We have 1 ,120 ,000 subscribers. You do the math. People are watching us. They're enjoying us. They want to support us, but they're not taking that time, and it costs you nothing to hit the free subscribe button.

8:27Michael Popok:Appreciate you have to do that for us. Until my next report, I'm Michael Popak.

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