Venezuelan Oil

14.9 yrs
~ 3 days, 3 hrs ago

Venezuelan Oil

The President has claimed "The biggest oil deal in history" with the Venezuelan government.
apnews.com/article/t rump-venezuela-oil-r eserves-eb0ed5a1e996 02c21a7f690c336

However, this does not mean oil is getting to the US anytime soon. More like years. Excerpt:
"A significant drop in U.S. gas prices tied to the agreement should not be expected immediately. Experts have repeatedly warned that a substantial boost in Venezuelan oil production will not happen quickly as repairing and expanding infrastructure takes years and requires billions of dollars."

Also:
"The agreement allows for the United States to partner with an unnamed private operator in Venezuela to create a new private company to take hold of the reserves, according to a U.S. official familiar with the contours of the deal.

The official, who was not authorized to comment publicly and spoke on the condition of anonymity, added that Rodríguez granted the company 100-year rights to develop the oil fields."

Let me guess, a new subsidiary of Trump, Inc called "Trump Oil Company", will be the private partner, with one of his sons or Jared or other family running it. Another excerpt in the article states: "The oil bought from the new company would go toward filling the U.S. strategic petroleum reserve and toward military use, according to the U.S. official."

Well that figures. None for refining into gas for the average American gas tank? Or maybe Venezuelan Oil is not the type of crude American refineries can process easily?

My opinion and mine alone and whatever.

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Replies:

14.9 yrs
~ 1 day, 16 hrs ago

Too many unanswered questions to the "announced" deal on Truth Social. No terms of the agreement have been released. Also, it was Rubio, Hegseth, and Venezuelan leader Rodriguez that negotiated the deal.

Wait, why would the Secretary of Defense (excuse me, "War") be involved in a diplomatic negotiation?

apnews.com/article/v enezuela-oil-trump-d eal-unknown-question s-reserves-c229

Excerpt: "Many important details remain unclear, including who will cover necessary investments, the identity of the private operator and how America's stake in the company breaks down.

The U.S. will get 55% of the company's effective output, but it was not clear what portion of that comes from an ownership stake and how much comes from the right to buy oil at cost.

It also is unclear how the industry will react. Persuading big American oil companies to return to the region could prove a challenge given the political uncertainty and damaged infrastructure."

Venezuelans are not happy with this deal. "Some in Venezuela consider it a betrayal of what their government has stated for decades: Venezuelan resources are Venezuela, and leaders would not allow the US government access to those resources. "

Also, as I stated previously, any oil the US gets, goes towards the Strategic Oil Reserves, and the military. None for refining into gas for American gas tanks. And it will be years before one drop gets pumped into a tanker ship, and that's if Donny Boy can convince his Big Oil billionaire donors/friends to head back there to rebuild infrastructure. (Probably if he promises more corporate tax cuts for their industry)

My opinion and mine alone and not my employer's.

19.7 yrs
~ 1 day, 10 hrs ago

What does the oil expert have to say?

https://www.youtube.com/watch?v=hGNn00usJuQ

Video Title: Everything Trump Said About The Venezuela Oil Deal Was A Lie

7.3 yrs
~ 1 day, 9 hrs ago

*Edited

EVERYTHING TRUMP SAID
[about the Venezuela oil deal]
WAS A LIE.