President Trump announced last week that the U.S. would team up with a Venezuelan company to pump oil from a large swath of the South American nation's reserves — but actually getting that petroleum out of the ground could come with…
Page F1From§Eachthe wee small hours edition — 1 September 2026
Venezuela oil deal touted by Trump, large slice claimed, logistical hurdles and gas prices remain
Trump says the US has control of a large slice of Venezuela’s oil, the deal is touted, but political and logistical hurdles stand between the US and the oil, and gas prices remain unchanged. The reconciliation is straight: the claim sits on one side, the price sits on the other, and the hurdles are the gap. The size of the gap is measured in the cost at the pump and the time it takes for the deal to clear. The column gaps like that turn up in the receipt at the gas station—hon.
“They announce a deal, claim a share, but the price at the pump stays put. If the hurdles are still there and the oil’s still in Venezuela, the only thing moving is the press release. The stakes? Your gas bill is waiting for the handshake to clear.”
“Every international agreement takes time to implement. The administration is showing strength by securing a large slice of oil, but logistical hurdles are normal. Did I say normal? I mean, prices will adjust once everything’s finalized. It’s just a matter of patience.”
The receipts
President Trump says a new oil reserve agreement with Venezuela will "substantially lower gas prices," but experts say it could be years before the operation is up and running. Chris Pilkerton, assistant secretary for investment security…
{beacon} Energy & Environment Energy & Environment The Big Story Trump: U.S. has control of large slice of Venezuela's oil President Trump said Friday evening that there will be “majority U.S. control” of a large swath of Venezuela’s oil…
This page is a back-issue: the story as it ran, receipts as they were. The current edition is at the front.