President Trump announced Friday that the U.S. has struck a deal to develop Venezuela's oil reserves, with the American government taking a majority stake in the project. Trump characterized the arrangement as beneficial for Americans, pointing to the nation's vast oil deposits.
Energy experts caution against expecting immediate results. Francisco Monaldi, director of the Latin America Energy Program at Rice University, explained that developing Venezuela's reserves requires substantial time and investment, and would not lead to lower gas prices in the near term.