President Trump framed last week's deal for the U.S. government to take a stake in Venezuelan oil as a boon for the depleted Strategic Petroleum Reserve. But the plan faces some hurdles, experts say.
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Trump asks Venezuela for oil as U.S. unveils details of Venezuela deal
Trump says Venezuela could replenish U.S. oil stockpiles (item 17), and the White House unveils new details of the Venezuela deal (item 33, 35). The ledger is clear: embargoes create scarcity, then scarcity creates a phone call, and the phone call leads to Caracas. The U.S. has a strategic petroleum reserve, and the refill comes from the country subject to sanctions. The receipts reconcile: the embargo is the policy, the deal is the workaround, and the gas bill is the outcome. The dollar amount isn’t listed, but the gap is plain: the sanctions ledger now includes an asterisk for exceptions. The U.S. gets its oil, Venezuela gets its invoice, and the consumer gets the bill. In lieu of flowers, check your monthly energy statement for a new line called “strategic sourcing.”
“The U.S. runs out of oil, Trump calls Venezuela, and the White House rushes to explain the deal. Turns out, the embargo has a phone number, and the number leads to Caracas. If you ever wondered where the refills come from, check the fine print in your gas receipt.”
“This is just strategic sourcing. We’re making deals with partners to ensure energy security, and Venezuela is simply one supplier among many. Did I say partner? I meant resource. Anyway, the arrangement is transparent and beneficial, except for the details we haven’t released yet.”
The receipts
{beacon} Energy & Environment Energy & Environment The Big Story Administration details oil deal with Venezuela The Trump administration unveiled additional details Monday evening about its new oil deal with Venezuela. AP Photo/Ariana Cubillos The Trump administration unveiled additional details Monday evening about its new oil deal with…
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This page is a back-issue: the story as it ran, receipts as they were. The current edition is at the front.