The Trump administration announced a deal Friday to develop a vast amount of Venezuela's oil reserves, with the U.S. taking a majority stake. Energy experts say there are many reasons to be skeptical.
A pedestrian walks past a mural featuring oil wells in Caracas, Venezuela, Saturday, Aug 29, 2026, a day after President Donald Trump announced a deal giving the United States a stake in Venezuela's oil reserves.
Pedro Mattey/AP
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Pedro Mattey/AP
President Donald Trump announced Friday that the U.S. secured majority control over 65 billion barrels of Venezuela's proven oil…
Trump said a new pact with Venezuela will allow US to control billions of barrels of oil, lowering gas prices for Americans and…
Developing the country’s vast oil reserves will require significant investment and infrastructure work—and officials have…
President claims the deal 'will substantially lower gas prices for all Americans'.
The deal involves developing 17 strategic oil fields in Venezuela, an undertaking that experts said could take years.
WASHINGTON - President Donald Trump said on Friday that his administration has reached a huge oil deal with Venezuela that gives…
