{"id":9434,"date":"2026-08-31T12:39:43","date_gmt":"2026-08-31T12:39:43","guid":{"rendered":"https:\/\/bestusamoverss.com\/?p=9434"},"modified":"2026-08-31T12:39:43","modified_gmt":"2026-08-31T12:39:43","slug":"the-u-s-venezuela-oil-deal-wont-lower-your-gas-prices-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/bestusamoverss.com\/?p=9434","title":{"rendered":"The U.S. Venezuela oil deal won’t lower your gas prices. Here’s what you need to know"},"content":{"rendered":"
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The Trump administration announced an agreement with the Venezuelan government on Friday to develop a vast amount of Venezuela’s oil reserves.<\/p>

Read more Nepal\u2019s hesitance to accept foreign help for flood relief under scrutiny<\/a><\/p>

The U.S. government says it is entering into a joint venture with a private Venezuelan company, according to an official who spoke to NPR on the condition of anonymity because they are not authorized to speak publicly about the deal. The Trump administration says the U.S. would get 55% of the oil from the joint venture. That’s equivalent to about 65 billion barrels of oil that’s under the ground.<\/p>

On Truth Social, President Trump called it the “biggest oil deal in the world.” But energy experts say there are many reasons to be skeptical.<\/p>\n

\u200a”So the initial reaction is, ‘wow, this is crazy,'” says Paasha Mahdavi, associate professor of political science at UC Santa Barbara who studies the oil industry. “But then you look into it, and you’re like, ‘well, this may not actually do anything.'”<\/p>

Here’s what you should know about the agreement.<\/p>

The idea that the U.S. government becomes a shareholder of this joint venture is “extremely unusual,” says Francisco Monaldi, director of the Latin America Energy Program at the Center for Energy Studies at Rice University.<\/p>

Unlike Saudi Arabia’s Saudi Aramco, or Mexico’s Pemex, the U.S. doesn’t own a national oil company.<\/p>

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Venezuela and U.S. relations <\/h3>\n

What U.S. history with Iraq’s oil can tell us about what could happen in Venezuela<\/h3>\n<\/div>\n\n<\/div>\n\n<\/div>\n\n

“We have no government-owned operational capability per se in the oil and gas sector,” says Gerald Kepes, president of Competitive Energy Strategies, an energy consultancy in Washington, D.C. “The question is, who’s going to operate on the ground?”<\/p>

There’s a private Venezuelan company involved in the deal, according to the U.S. official who was not authorized to speak publicly. It’s still unclear how this partnership will work.<\/p>

Other American oil company investors might want to take a portion of the U.S. government’s stake in this joint venture. But the deal may not appeal to international investors.<\/p>\n\n

“It’s not clear who will rush in for that opportunity,” Mahdavi says.<\/p>

Trump has announced that the U.S. would take its stake of Venezuela’s oil “at cost,” which means that the U.S. would get that oil at whatever it costs to produce plus some set margin. But there can be a lot of volatility in oil markets. When oil prices are really high, oil companies can make a lot of excess profits.<\/p>

Read more U.S., Venezuela strike oil deal. And, the staggering hidden toll of U.S. heat deaths<\/a><\/p>

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\"A<\/figure>\n<\/figure>\n
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Climate <\/h3>\n

Oil companies are making billions. In the U.S., calls to tax their windfall are growing<\/h3>\n<\/div>\n\n<\/div>\n\n<\/div>\n\n

This kind of “at-cost” deal can take away oil companies’ ability to make those extra big bucks, Mahdavi says.<\/p>

“‘At cost’ is not attractive in this industry,” Mahdavi says. “So you would want to have some ability to capture on whatever premium exists between cost and the actual price of oil.”<\/p>

Another issue with this deal, Kepes says, is that it’s made with the government of acting President Delcy Rodr\u00edguez. Rodr\u00edguez wasn’t elected, as she came into office after the U.S. seized and arrested former President Nicol\u00e1s Maduro in January.<\/p>

In a televised address to the nation on Saturday night, Rodr\u00edguez said this deal is good for the Venezuelan people. But some Venezuelans are questioning if the deal’s terms are fair.<\/p>\n

Kepes says he expects oil companies will also have questions.<\/p>

“At the end of the day, they’re still signing a deal with the Delcy Rodr\u00edguez government,” he says. “How legitimate is that government, and what’s that going to look like in three to five years?”<\/p>

In a post on Truth Social, President Trump wrote that this deal will “substantially lower gas prices” for American taxpayers.<\/p>

Kepes says that the idea of this deal affecting gas prices now is “absurd.”<\/p>\n

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\"The<\/figure>\n<\/figure>\n
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Venezuela and U.S. relations <\/h3>\n

Trump wants U.S. oil companies in Venezuela. Here’s what to know<\/h3>\n<\/div>\n\n<\/div>\n\n<\/div>\n\n

Many of the larger oil fields being discussed in the deal are still largely undeveloped. That means it will take a minimum of a few years for those fields to produce anything, Monaldi says.<\/p>

“A significant increase in production is highly unlikely,” Monaldi says. “So this is not something that will have any relevant impact on the world oil market in the short term.”<\/p>

If this deal does have an impact on gas prices, Kepes says, it will be far on the horizon.<\/p>

Read more Singapore is scrambling to stabilize birthrates. Experts say there are lessons for the U.S.<\/a><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

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.<\/p>\n","protected":false},"author":1,"featured_media":9431,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[709,1824],"class_list":["post-9434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-oil","tag-venezuelan-oil"],"yoast_head":"\nThe U.S. Venezuela oil deal won't lower your gas prices. 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