🔶 Analysts express doubt about Trump’s oil promise in deal with Venezuela

🔶 Analysts express doubt about Trump’s oil promise in deal with Venezuela

The U.S. government has presented its agreement with Venezuela as a major and historic achievement. Trump, along with Doug Burghm, the U.S. Secretary of the Interior, said in a television program that the United States’ oil reserves will soon be refilled with Venezuelan oil and that gasoline prices will fall.

Burghm described the deal as a “geopolitical shift in the global energy market,” saying it will redirect the supply of oil from the Middle East to the Western Hemisphere. According to him, the transfer of oil between Venezuela and the U.S. Gulf Coast faces no obstacle, and this route could provide reliable, safe, and affordable energy for future generations.

However, oil market analysts doubt that the plan will be implemented in the short term. David Rose, senior strategist at the “Quantum Strategy” institute, said in an interview with the CNBC network that rebuilding the worn-out oil extraction infrastructure in Venezuela would take years, and developing new fields would take even longer—meaning Americans will not benefit from the main interests of this deal for a very distant future.

Under the agreement between Washington and Caracas, the company “North American Blue Energy Partners” would gain the right to extract oil from 17 oil fields in Venezuela for 100 years. With the implementation of this deal, the company will become the world’s second-largest holder of proven oil reserves after Saudi Aramco.

Without direct investment, the U.S. would own 35% of the company’s inactive shares, which will be managed by its Department of Defense. Washington would also receive first priority to buy 20% of the oil extracted in the future at cost.

Maggie Goudelnder, a Democratic member of Congress, criticized the deal, saying that Americans should not spend even a single dollar on developing Venezuelan oil fields. She added that Americans need a reduction in the high price of gasoline, but this deal will not help them in the near future.

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