00:00The U.S. just landed a huge deal for Venezuela's oil,
00:03more than 65 billion barrels.
00:05But this won't touch what you pay at the pump anytime soon.
00:08Here's what's happening.
00:09Trump announced the deal on August 28th,
00:11giving the U.S. a stake in a new company
00:13with access to Venezuela's oil fields.
00:16That gets America 55% of the output,
00:18plus the right to buy oil at cost.
00:21That's a big deal.
00:21On August 30th, Trump posted on Truth Social
00:24that some of it is heading straight
00:25into the Strategic Petroleum Reserve,
00:27our emergency oil stash,
00:29calling it a gift from Venezuela
00:31to the people of the United States.
00:32Venezuela isn't calling it that.
00:35Acting President Delcy Rodriguez told VTV
00:37her country retains ownership of,
00:39and sovereignty over, its resources.
00:42On the day the deal was announced,
00:43Trump wrote that it would substantially lower gas prices
00:46for all Americans.
00:47Rubio called it a huge win,
00:49and Fox Business contributor Phil Flynn went further,
00:52calling it a generational win for gas prices.
00:55But that's not likely to happen anytime soon.
00:57Energy analysts say that Venezuela's oil equipment is old,
01:00and needs billions to rebuild,
01:02and ramping up production will take years.
01:05So far, nobody's released the actual contract
01:07between the U.S. and Venezuela,
01:09and no one's saying who's paying for all those repairs.
01:11But when a politician promises cheaper gas,
01:14do you actually believe it?
01:15Let us know in the comments,
01:16and follow us here for more.
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