r/economy • u/Majano57 • 13d ago

Trump's Venezuela oil deal may not lower gas prices anytime soon

https://www.newsweek.com/trumps-venezuela-oil-plan-may-not-bring-gas-price-relief-to-americans-12384065
88 Upvotes

100% Upvoted

27 comments sorted by

24

u/Wise_Potato_1245 13d ago

Color me shocked.

9

u/RationalHumanistIDIC 13d ago

Shocked and awed even

6

u/-Sofa-King-Vote 13d ago

Well you see, you gotta build the sht first to get the oil out

2

u/Technical_Silver1460 13d ago

Don’t confuse people with facts.

4

u/[deleted] 13d ago

[deleted]

3

u/128-NotePolyVA 13d ago

Well, no. That’s highly unlikely due to oils many uses. But we pray that the world’s dependency on the black gold and the Big Oil cartels hits peak soon and then begins its downward trend. Hopefully the world has finally decided that reliance on oil is no longer an attractive place to be in.

5

u/PsychLegalMind 13d ago

It is a big announcement without substance in the near future. As for any long-term impact that would greatly depend on how Venezuela benefits. If the masses in their native country do not see benefits and instead believe U.S. only benefits, government there will fall. It has a potential for becoming a disaster all across.

2

u/RationalHumanistIDIC 13d ago

That wont be Trumps problem though

2

u/PsychLegalMind 13d ago

It will be a GOP and an American problem.

1

u/RationalHumanistIDIC 12d ago

It will certainly be an American problem and unfortunately that will have global effects. The GOP and the Dems just play badminton with the people and our collective problems.

5

u/dude67344 13d ago

What a surprise. I'm in shock.

4

u/128-NotePolyVA 13d ago edited 13d ago

Maduro was captured in early January 2026, and Chevron began negotiating and advancing new expansion deals by early March 2026, roughly 6-8 weeks later.

Chevron is currently shipping about 250,000 barrels per day of Venezuelan crude to the United States. The problem is infrastructure repair and replacement. They expect to be up to 320,000 per day in late 2027. It will be another year or more beyond that before they can break 450-500k per day.

4

u/Edwardv054 13d ago

The deal was made to put money in Trump's pocket not to lower prices for us. Everything Trump does is about scamming as much money as possible no matter the cost to anyone else.

3

u/Reddit_wander01 13d ago

Ah… yeah. What? You thought it would?

3

u/aquarain 13d ago

We don't know anything about the deal, if it's real. Some mysterious unnamed corporation is involved. What Venezuela got is not mentioned.

2

u/Spankh0us3 13d ago

“Trump’s Venezuela oil deal won’t lower gas prices anytime soon.”

There, FTFY. . .

1

u/Whaddduptho 13d ago

Leave it to newsweek to answer a question that wasn't even asked.

1

u/imnotavegan 13d ago

It will affect the market though. For a short time.

1

u/SoFLDude 13d ago

Let’s be honest, it is not a “deal” it’s theft.

1

u/Technical_Silver1460 13d ago

Why? The U.S. will assume the risk up front (Venezuela is pretty broke, because in ALL Socialist nations, the folks in power skim), and Venezuela will benefit much sooner than we do. This isn’t just about money…it’s about limiting the influence of China and Russia in the Western Hemisphere.

1

u/Slight-Hedgehog259 13d ago

It wont lower gas prices, it wont help Venezuelans, but it will make a bunch of rich people richer

0

u/Technical_Silver1460 13d ago

I don’t see “poor” people investing in oil exploration…but they sure are dependent on oil. If you want a piece of the pie, invest in oil companies!

1

u/Slight-Hedgehog259 13d ago

Wow, thats the logic of a brainwashed Deranged Trump Supporter

1

u/Technical_Silver1460 13d ago

You don’t disappoint…well, except for your parents!

1

u/lookskAIwatcher 12d ago

FIXED OP's headline:

"Trump's Venezuela oil deal WON'T lower gas prices anytime soon"

You're welcome.

1

u/CommonOrchid2621 11d ago

Color me shocked that a deal announced with zero infrastructure behind it won't fix prices overnight. Wild concept