Trump Promises His Venezuela Oil Deal Will Lower Gas Prices. But When? The promise of lower gas prices is a staple of American politics, and President Donald Trump's latest move is no exception.
Last week, he announced a "historic" deal with Venezuela that would give the US majority control over 65 billion barrels of oil reserves.
Venezuela's oil industry has been in shambles for years due to government mismanagement, international sanctions, and an economic crisis. Production levels have declined dramatically – from 3.