CARACAS, Venezuela — Energy Secretary Chris Wright said the Trump administration’s efforts to increase oil production in Venezuela would yield lower gas prices for Americans in one to two years, a timeline elongated in part due to the need to build more refiners capable of processing the heavy Venezuelan crude.
“We are ahead of schedule, ahead of plan,” Wright said during a visit to Caracas to broker major oil deals with the Venezuelan government.
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When asked directly about lower gas prices, Wright said he was confident Americans would “feel” the progress from the deal “in the next 12 to 24 months.”
