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.
Energy Secretary Chris Wright said Wednesday, Jan. 7, that the U.S. government wants to restart shipments of Venezuelan oil, deposit funds into U.S.-controlled accounts and create conditions for U.S. oil companies to operate in Venezuela.
Wright said he is in talks with U.S. oil companies to find out on what terms they can enter the South American country, adding that he would like to sell Venezuelan oil to U.S. refineries.
He spoke at the Goldman Sachs Energy, Cleantech and Utilities Conference in Miami.
President Donald Trump said over the weekend that the United States would “take control” of Venezuela after the U.S. military ousted Venezuelan President Nicolas Maduro.
Reuters reported on January 7 that US oil executives are scheduled to visit the White House later this week to discuss ways to revive Venezuela’s battered oil sector.
