3 Days
Source:
Los Angeles Times
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Hiltzik Investigates Trump Venezuela Oil Deal
President Trump announced a deal with a private company to access Venezuelan oil reserves, claiming it would significantly lower U.S. gas prices and increase reserves. Experts, however, note that Venezuelan oil is of low quality, costly to extract, and production has declined significantly, making immediate supply increases unlikely. The deal's transparency and legal standing are also questioned, as its future depends on Venezuela’s political stability and adherence to agreements. Overall, the claim that this deal will quickly lower gas prices is considered overstated and unlikely to materialize soon.
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