WASHINGTON, DC, UNITED STATES, September 2, 2026 /EINPresswire.com/ — The United States Hispanic Business Council (USHBC) expresses support for the newly announced U.S.-Venezuela oil agreement, viewing it as a key move to bolster American energy security and rebuild economic connections with Venezuela and the broader Western Hemisphere. This pact covers 17 Venezuelan oil fields and grants the United States preferential access to a portion of North American Blue Energy Partners’ (NABEP) output. NABEP has revealed plans for significant private investment into Venezuela’s oil infrastructure.
With the national average cost of gasoline now above $4 per gallon and diesel exceeding $5.60, energy affordability is a major challenge for U.S. businesses and households. The agreement represents a practical approach to fortifying American energy security. Many Gulf Coast refineries in the United States are well equipped to handle Venezuela’s heavy crude, and increased output could boost the use of domestic refining capacity, while also offering another Western Hemisphere crude source and aiding the refilling of the Strategic Petroleum Reserve. These advantages would extend beyond the oil and gas sector, since dependable energy is necessary to transport goods, operate factories and farms, keep construction sites and delivery fleets running, and serve as a critical input across numerous manufactured and processed items. Small businesses, in particular, have limited ability to absorb sudden spikes in fuel, shipping, electricity, and other operational costs. The conflicts in Ukraine and Iran have disrupted global energy markets and led to emergency withdrawals from the Strategic Petroleum Reserve.
Javier Palomarez, USHBC President and CEO, released 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 urges the Administration and Congress to collaborate with American energy producers and refiners, investors, workers, and small-business stakeholders to implement the agreement in a responsible manner. A durable framework must include transparent accounting and robust oversight of federal commitments, safeguard taxpayers, complement domestic energy production and investment, enhance hemispheric energy security, and sustain American refining and its extensive supply chains. The USHBC will continue to advocate for an all-of-the-above energy strategy that recognizes reliable oil and gas production as vital 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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