Jack Reed: “You are envisioning a regulatory solution initially which would use what authorities you have, which are substantial.”

President Trump’s effort to turn the U.S. military into an investor in Venezuelan oil is a blatant abuse of power and taxpayer dollars.

While the President and his family accumulate billions of dollars through dubious deals, normal hardworking Americans are struggling just to get by.

President Trump has been explicit about his desire to extract Venezuela's oil," Reed said in a statement.

His administration removed Nicolás Maduro from power, threw its weight behind the unelected leadership that replaced Maduro, and is now attempting to use U.S. military assets and taxpayer-backed financing to boost a private oil venture.