<p><strong>WHAT’S HAPPENING TODAY:</strong> On August 31, 2026, members of the House of Representatives are returning to the Capitol in Washington, D.C. Energy Secretary Chris Wright is expected to travel to Venezuela this week.</p>
<ul> <li>Venezuela's oil industry was highlighted as President Donald Trump announced a deal to control significant oil reserves in the country.</li> <li>The U.S. has secured majority control of over 65 billion barrels of proven reserves in Venezuela through a new company formed with an unnamed private developer.</li> </ul>
<h2>WHAT WE KNOW ABOUT THE U.S.-VENEZUELA OIL DEAL:</h2>
<p>President Trump described the deal as the “biggest oil deal in the world.” The agreement involves the formation of a new company that will develop 17 oil fields in Venezuela, with initial reports indicating a 100-year concession. However, Acting President Delcy Rodriguez later clarified that the agreement will last 25 years, targeting a production of 1.5 million barrels per day and potentially generating $209 billion in revenue for Venezuela at a baseline price of $65 per barrel.</p>
<p>Venezuelan businessman Alejandro Betancourt is reported to be the key negotiator for the deal, leading North American Blue Energy Partners, which is believed to be the unnamed private developer involved. The U.S. is expected to take a 35% passive stake in the company and purchase 20% of its production at cost.</p>
<p>Betancourt's involvement has raised controversy due to allegations of money laundering in multiple countries, although he has not been formally charged. The deal has faced criticism from members of Venezuela’s opposition and ruling parties, with some claiming it violates the country’s constitution.</p>
<p>William Rodriguez, a former member of Congress from the ruling United Socialist Party, referred to the deal as “the greatest oil betrayal in the history of the country.”</p>
<p>Trump claimed the deal would help refill the United States’ Strategic Petroleum Reserve (SPR), which currently holds about 286.8 million barrels of oil, the lowest since 1982. Experts have noted that the SPR cannot accommodate heavy crude from Venezuela due to facility specifications.</p>
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<h2>All the rest</h2>
<p><strong>TRUMP CONDEMNS ANTI-DATA CENTER MOVEMENT:</strong> Trump criticized public backlash against data centers, stating that communities rejecting them would be “backwards and poor.” He emphasized the importance of data centers for economic success.</p>
<p><strong>TRUMP THREATENS TO HIT IRAN AS FIGHTING RESUMES:</strong> Trump promised retaliation against Iran following recent exchanges of fire. The U.S. launched airstrikes on Iranian positions after observing preparations for rocket launches.</p>
<p><strong>TRUMP HOSTING OIL EXECS TO DISCUSS HIGH GAS PRICES:</strong> Trump is set to meet with oil refining companies to discuss strategies for lowering gasoline prices, with the national average at approximately $4.08 per gallon.</p>
<p><strong>PALISADES NUCLEAR PLANT IS GETTING FUEL:</strong> The Palisades Nuclear Power Plant in Michigan is progressing towards reopening, with fuel loading initiated by Holtec International.</p>
<p><strong>THE SEARCH CONTINUES FOR THOSE MISSING AFTER THE GRAND CANYON FLASH FLOOD:</strong> Recovery efforts are ongoing after a flash flood in the Grand Canyon, with two bodies recovered and 15 individuals still missing.</p>
<p><strong>LG ENERGY TO PURCHASE MATERIALS FROM SMACKOVER LITHIUM:</strong> LG Energy Solution has agreed to purchase lithium from the Smackover Lithium project, with plans to acquire 8,000 tons annually over a decade starting in 2029.</p>
<p><strong>A LOOK AHEAD:</strong> Upcoming events include meetings and discussions on environmental issues and energy strategies.</p>
<p><strong>RUNDOWN:</strong> Articles from various sources discuss topics related to energy and environmental policies.</p>