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What we know about Trump's deal giving US access to vast oil reserves in Venezuela
- Trump hailed a deal he calls "THE BIGGEST OIL DEAL IN WORLD HISTORY": a new U.S.-linked company was given 100‑year rights to 17 Venezuelan fields (claimed potential ~65 billion barrels) and the U.S. would get about 55% of the output, with officials touting up to $100 billion in investment.
- Major details are missing and experts warn it won’t be quick — no agreement text, unclear who’ll fund repairs, legal/diplomatic risks, and years (not weeks) of work would be needed before any big boost to supply or lower pump prices.
- The move is politically explosive — praised by some U.S. conservatives, denounced by Democrats and many Venezuelans as illegitimate or a betrayal, meaning it’s sure to fuel heated debate.
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