Source: Town Hall
by EJ Antoni, Ph.D.
“In a January Townhall column, I argued that the Venezuela operation was a win for America and a loss for China and Canada. Friday’s announcement from the Trump administration of an oil deal with Venezuela confirms that assessment. The agreement gives the U.S. a majority control of more than 65 billion barrels of proven reserves through a joint venture built around 17 strategic fields, with an initial production target north of 1.5 million barrels per day over a 25-year framework. On paper, it creates the second-largest private holder of proven reserves on the planet, behind only Saudi Aramco. But Americans need to be realistic about their expectations: this won’t translate into lower gasoline or diesel prices anytime soon.” (09/02/26)