The Pentagon just quietly became a major shareholder in a private oil company controlling Venezuela’s vast oil reserves—enough to rival ExxonMobil. Through a Barbados-based firm, NABEP, the U.S. government now holds a 35% stake, with veto power over board appointments and priority access to oil, effectively turning it into a de facto state-owned enterprise. The goal? Secure America’s energy future and military supply chains, especially as private firms shy away from Venezuela’s risky landscape. But questions loom: Is this legal? What about the CEO’s murky past? And could this move reshape global energy politics—or backfire spectacularly?
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