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Will the U.S. really control Venezuelan oil?

The U.S. and Venezuela say they have entered into a partnership that would give the U.S. majority control of more than 65 billion barrels worth of oil reserves. President Trump hopes to lower energy costs in the U.S., but it's unclear when, or if, that oil reaches U.S. gas pumps given past industry experiences in Venezuela.

By John Otis, Carrie Kahn, Greg DixonVenezuela, West BankAugust 31, 2026
will-the-us-really-control-venezuelan-oil

The U.S. and Venezuela say they have entered into a partnership that would give the U.S. majority control of more that 65 billion barrels worth of oil reserves. President Trump hopes to lower energy costs in the U.S., Venezuela's leaders hope to bring investment and keep the unpopular U.S.-backed interim president in power. But given the U.S. oil industry's past experiences in Venezuela, it's not clear when, or if, that oil gets to U.S. gas pumps.

And it was a weekend of violence in the Israeli Occupied West Bank, with multiple assaults on Palestinians reported and one on a U.S. news crew. The attacks by Israeli settlers were condemned by both Israeli and U.S. officials, but no arrests were made. We go to the West Bank.

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