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- Venezuela says Trump’s historic oil deal targets 1.5M barrels per day, cou...
Venezuelan interim President Delcy Rodriguez on Saturday touted a "historic" oil agreement with the United States announced by President Donald Trump.Speaking during an evening address, Rodriguez celebrated the agreement, saying it would help revive Venezuela's economy. She said the deal would remain in effect for 25 years and initially target crude production of more than 1.5 million barrels per day while preserving the South American country's sovereignty over its natural resources."This 25-year bilateral project envisages the development of 17 strategic oilfields with a production target of more than 1.5 million barrels per day," Rodriguez said on state broadcaster VTV."That figure relates solely to the bilateral agreement between Venezuela and the United States," she added.TRUMP ANNOUNCES ‘BIGGEST OIL DEAL IN WORLD HISTORY,’ SAYS IT WILL SUBSTANTIALLY LOWER GAS PRICESRodriguez's comments came after Trump announced the agreement on Truth Social on Friday, saying the U.S. had secured majority control of more than 65 billion barrels of Venezuela's proven oil reserves, which are the largest in the world."The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!" Trump wrote.The agreement was reached through Secretary of State Marco Rubio, Secretary of War Pete Hegseth, Rodriguez and private businesses "at no cost to the American Taxpayer," Trump said."This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future," Trump said.US ARMY PLANS NUCLEAR MICROREACTORS AT 5 MILITARY BASES AS PART OF $2.2B ENERGY SECURITY PUSHRubio called the agreement a "huge win" for both countries, saying it would secure "stable reserves and low-cost oil" in the Western Hemisphere while lowering U.S. gas prices.He added that the deal would also bring nearly $100 billion in private investment to Venezuela, support thousands of high-paying jobs and help rebuild the country's economy.Rodriguez said the production target was only an initial goal, with broader plans to develop eight greenfield oil blocks as part of a wider energy expansion.On Saturday, the interim president predicted that the agreement could generate more than $200 billion in revenue for Venezuela.TRUMP ORDER COULD FORCE US UTILITIES TO REPLACE FOREIGN POWER EQUIPMENTShe also said her country retained "ownership of and sovereignty" over its natural resources, "while leveraging capital, technology and operational expertise to support the recovery of a strategic industry that has been severely affected by… [TheTopNews] Read More.19 mins ago - Trump’s Venezuelan Oil Deal Relies on a Powerful and Divisive Partner
The administration will work with a private Venezuelan oil company that has close ties to the country’s government. [TheTopNews] Read More.8 hours ago - Treasury Bars Some Reporters From G20 Finance MeetingSpecific reporters from The New York Times, The Wall Street Journal and Bloomberg were not granted credentials to cover the meeting of financial leaders next week in Asheville, N.C. [TheTopNews] Read More.9 hours ago
- Warsh, After Talking Tough on Inflation, Faces a ‘No-Win Situation’ on RatesKevin M. Warsh, the chairman of the Federal Reserve, must soon decide whether to raise interest rates if inflation does not ease, even if it draws President Trump’s ire. [TheTopNews] Read More.11 hours ago
- Fed Chairman Warsh Seeks to Calm Elevated Inflation ConcernsIn a high-profile speech, Kevin M. Warsh said the Federal Reserve was chiefly responsible for taming inflation. If price increases do not return to the central bank’s target quickly, “we have work to do,” he said. [TheTopNews] Read More.11 hours ago
- 40,000 Pounds of Pabst Blue Ribbon Beer Are Stolen in CaliforniaThe company responded to the theft by setting a deadline for the return of the product. “P.S., this is real and we are deadly serious,” it said on social media. [TheTopNews] Read More.13 hours ago
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