President Donald Trump announced on Friday that he struck a historic oil deal with Venezuela, after wresting power from former Venezuelan dictator Nicolas Maduro in January.
The president said the United States has established “majority” control over more than 65 billion barrels of oil in Venezuela, “at no cost to the American taxpayer.” Trump said the transaction more than doubles U.S. oil reserves, a significant development given that the cost of energy has spiked due to turmoil in the Strait of Hormuz sparked by the president’s war with Iran.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.