Senator Markey Demands Energy Secretary Wright Provide Legal Basis for Trump Administration Plans to Seize, Sell, and Pocket Profits from Venezuelan Oil

Letter Text (PDF)

Washington (January 8, 2026) - Senator Edward J. Markey (D-Mass.), member of the Environment and Public Works Committee and the Commerce, Science, and Transportation Committee, today wrote to Secretary of Energy Chris Wright with concerns about the Trump administration's executive overreach following its illegal military actions in Venezuela and recent proposal to seize and sell Venezuela's oil, as well as President Trump's assertion that he will personally control the revenue stream. President Trump and Secretary Wright announced plans yesterday for the federal government to sell Venezuelan crude oil, deposit the proceeds in U.S.-controlled accounts, and later have the funds be used for the purported benefit of people of Venezuela and the United States.

Senator Markey wrote, "Venezuela's oil industry has long been entangled with foreign corporate power. That history includes major U.S. oil companies-Chevron, ConocoPhillips, and Exxon Mobil-whose involvement in Venezuela has repeatedly generated controversy and distrust. The United States has seen this movie before. From Iraq to other theaters of energy imperialism, U.S. interventions tied to control over oil have been followed by profound human costs: shattered institutions, corruption booms, black markets, displacement, and long-term security consequences. Those lessons should counsel restraint, humility, and lawful process, not an open-ended plan for the U.S. government itself to market another nation's crude indefinitely."

Senator Markey continued, "It is difficult to imagine a clearer or more public invitation to corruption, cronyism, and the politicization of state power. It is also difficult to reconcile with the President's longstanding denunciations of 'socialism,' because what he is proposing is nothing less than a government-run takeover of a foreign commodity revenue stream administered through U.S.-controlled accounts, and subject to politically directed distribution."

Senator Markey concluded, "The United States should not repeat the most dehumanizing pattern of 19th and 20th century interventionism: force first, monetization second, and accountability never. If the Administration is creating a government-run system to market a foreign nation's oil indefinitely and keep the proceeds in U.S.-controlled accounts, Congress-and the American people-are entitled to a transparent and complete accounting of the legal authority, operational structure, and private interests that stand to benefit-especially as American taxpayers' dollars are used to underwrite this entire scheme."

By January 22, Senator Markey requests Secretary Wright provide any legal opinions and documents supporting the Trump administration's proposal to sell Venezuelan oil and control the revenue stream and an explanation of its statutory authority to do so. Senator Markey also requests answers on how the United States plans to obtain lawful ownership of Venezuelan oil; where and how the proceeds from the oil will be held and deposited into Treasury in accordance with the law; and what safeguards or oversight mechanisms are in place to prevent corruption in disbursement and control of the proceeds.

Senator Markey has been outspoken in his opposition to U.S. military action in Venezuela.

• On Thursday, Senator Markey voted in favor of advancing a resolution to prevent the Trump administration from further military action against Venezuela without congressional approval.
• On Tuesday, Senator Markey wrote to the CEOs of three U.S.-based oil companies-Michael K. Wirth, CEO of Chevron; Darren W. Woods, CEO of ExxonMobil; and Ryan Lance, CEO of ConocoPhillips-requesting information on the communications that their companies have had with the Trump administration about U.S. military operations in Venezuela, as well as about their intentions for oil production in the country.
• On Monday, Senator Markey wrote a letter to President Trump, demanding a cessation of hostilities against Venezuela and answers on the Trump administration's objectives, legal rationale, and plans for Venezuela's future.
• On Saturday, Senator Markey released a statement and video after the Trump administration launched an illegal strike on Venezuela and captured President Maduro.
• In November, Senator Markey supported Senator Tim Kaine's (D-Va.) War Powers Resolution that would have blocked Donald Trump from authorizing military strikes on Venezuela. Republicans voted down the resolution.

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