Secretary of State Marco Rubio touted the "tremendous leverage and control" the United States now exerts over Venezuela's oil industry and suggested Venezuela wants the oil captured in the Caribbean Wednesday by U.S. forces to be a part of its export deal with the administration.

Venezuela has the largest oil reserves of any country on Earth. But the type of oil it has is difficult, and dirty, to process. Experts say ramping up production would be expensive, and dangerous for the climate and environment.

It’s not going to cost us anything," Rubio said of the Trump Administration's plans to transform Venezuela and sell its oil

Since the dramatic capture of dictator Nicolas Maduro by U.S. forces, questions have swirled about who is running Venezuela and how.

The secretary of state told lawmakers the administration has a three-phase plan for Venezuela after ousting its leader, including seizing oil and controlling the proceeds.

Rep. Carlos Giménez (R-Fla.), whose south Florida district includes many Cubans and Venezuelans eager for regime change in those countries, said Maria Corina Machado, the country’s exiled opposition leader and winner of the 2025 Nobel Peace Prize, hasn’t been pushed aside.

The U.S. seized Maduro and first lady Cilia Flores in a military operation Saturday, removing them both from their home on a military base in Venezuela’s capital, Caracas. Hours later, Trump said the U.S. would “run” Venezuela and expressed skepticism that Machado could ever be its leader.

Venezuela's state-run oil company PDVSA said on Wednesday it is progressing in negotiations with the United States for oil sales, as a board member for the company told Reuters the U.S. will need to buy cargoes at international prices.