Top Senate Democrats Challenge Legality Of Pentagon's Planned Venezuela Oil Stake
'unlikely to reduce high energy costs for Americans'


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'unlikely to reduce high energy costs for Americans'

There aren't 65 billion barrels, they won't be lowering gas prices, and they won't refill the SPR.


It is likely to be years before production meaningfully ramps up, industry experts say, and there are many risks involved.
The deal involves developing 17 strategic oil fields in Venezuela, an undertaking that experts said could take years.

The president said an agreement between the countries covered more than 65 billion barrels of reserves. A U.S. official said it would involve a partnership wit…

The agreement would grant the US majority control of over 65 billion barrels of proven Venezuelan oil reserves, Trump said.

The US president wants American energy firms to start extracting the crude but they are reluctant.

There's renewed focus on the oil industry since the U.S. seized Venezuela's president. The benefits for Texas, which has many oil companies and the most refini…
Trump SHOCKS Establishment, Says HE Is Taking Venezuela's Oil

Venezuela's oil comeback won't be easy, fast, or cheap ️

Washington's long-term interests require a smooth political transition in Caracas, not short-sighted mercantilism.

The administration has made it clear that Nicolás Maduro's capture was tied to Venezuela's vast oil reserves. Much less certain is how US companies will actual…
Donald Trump has said that American oil firms will invest billions to produce oil in Venezuela.

Venezuela claims to have more than 300 billion barrels in the ground, but it is only producing about one million barrels a day.

The South American nation's output has plummeted and restoring its former glory would be a heavy lift.

Trump's announcement marked an abrupt reversal of his administration's outreach to President Nicolás Maduro.
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