State Capitalism Comes Home to Roost in America's Oil Industry The recent deal between the US government and North American Blue Energy Partners (NABEP) has set off alarm bells about the creeping influence of state capitalism in America's oil industry.
The Pentagon's 35% equity stake in NABEP, which controls a staggering 65 billion barrels of Venezuela's proven crude reserves, raises questions about the boundaries between public and private enterprise.
The deal is part of a broader trend of the Trump administration taking ownership stakes in companies at an unprecedented pace.