We're not taking Venezuela's oil, we've prevented them from selling it: Energy Secretary

Summary

CNBC's Brian Sullivan interviews U.S. Energy Secretary Chris Wright at the Goldman Energy and Utilities Conference about U.S. policy toward Venezuela's oil. Wright says the U.S. has blockaded Venezuelan oil sales to choke off revenue rather than take the oil, and now plans to allow stored sanctioned crude to be sold into global crude markets while controlling the proceeds. He also discusses the broader goal of reducing adversarial influence and helping Venezuela move toward prosperity.

• Brian Sullivan interviews U.S. Energy Secretary Chris Wright at the Goldman Energy and Utilities Conference.
• Wright says the U.S. wants to stop crime, drugs, and adversary influence from Venezuela.
• The U.S. has blocked Venezuelan oil sales to cut off cash flow, not to take the oil, according to Wright.
• The U.S. now plans to allow stored sanctioned Venezuelan crude to flow into global crude markets.
• Revenue from those sales would be controlled by the U.S. and used for Venezuela's benefit.
• Wright frames the policy as leverage to push Venezuela toward a more prosperous and representative future.
• No explicit oil-price forecast or investment recommendation is given in the interview.