“This oil will be sold at market price, and the money will be controlled by me, the President of the United States,” Trump said.
Will Venezuelan oil affect US gas prices?
President Donald Trump has said big oil companies will spend billions of dollars in Venezuela, but experts say gas prices are unlikely to change anytime soon.
President Donald Trump said Venezuela would give the United States between 30 million and 50 million barrels of oil, as the Venezuelan regime seized him and began to pressure the new leadership.
“This oil will be sold at market price and managed by me, the President of the United States, to ensure that the funds are used for the benefit of the people of Venezuela and the United States,” Trump said in a Jan. 6 social media post.
Energy Secretary Chris Wright is coordinating the effort, Trump added.
Early on January 3, the United States captured Venezuelan President Nicolas Maduro in a military operation and took him to New York City on drug trafficking charges. Maduro pleaded not guilty in federal court on January 5. Delcy Rodriguez, who served as Maduro’s vice president, became interim president.
President Trump has focused on Venezuela’s oil resources following the U.S. military operation. He told NBC on January 5 that the United States may repay investments to American oil companies and that it could take less than 18 months for Venezuela’s oil production to recover.
“We’re going to have to spend a lot of money, and the oil companies are going to spend it, and then it’s going to be reimbursed by us and through revenue,” Trump said.
