Trump Promises His Venezuela Oil Deal Will Lower Gas Prices. But When?

President Donald Trump is promising that his new oil deal with Venezuela will lower gas prices for American consumers, but the timeline for any such relief remains unclear. The agreement, which Trump has touted as "THE BIGGEST OIL DEAL IN WORLD HISTORY," grants the U.S. government rights to untapped oil fields in Venezuela for 100 years, according to the Associated Press. The deal comes nearly three weeks after the U.S. raided Caracas and extracted Venezuelan President Nicolás Maduro.

The deal has drawn mixed reactions from lawmakers, including within Trump's own party. Rep. Maria Elvira Salazar (R-FL) initially published a scathing rebuke of the deal on social media, writing that "any oil 'deal' with Venezuela's interim regime has an expiration date: the day President Trump leaves the White House." She argued that a lasting deal could only be made with a democratically elected government that respects the rule of law and protects private property. Salazar later deleted that post and replaced it with one praising the agreement, calling it "a great deal for the United States and for the Venezuelan people."

Venezuela's interim president has said the energy deal will last 25 years, a figure that contrasts with the 100-year rights to untapped oil fields described in the Associated Press report. The discrepancy highlights uncertainty about the deal's structure and duration. Salazar had previously predicted on Fox News that "American oil companies will be operating in Venezuela for the next 100 years," a statement that now appears prescient given the terms of the agreement.

The deal's impact on gas prices is the central question for American consumers. Trump has promised that the agreement will bring down prices at the pump, but no specific timeline has been provided. Analysts note that even with access to Venezuela's oil reserves — the single-largest proven oil reserves on earth — bringing new production online takes time. Infrastructure, investment, and political stability are all factors that could delay any meaningful increase in supply.

Salazar was among the most vocal supporters of the Trump administration's operation to extract Maduro, insisting that Venezuelans were "waiting for the Americans to come and help them be free again." Her initial criticism of the oil deal suggests that even some of the deal's strongest political backers have concerns about its long-term viability. The deal's durability depends on the stability of the interim regime and the willingness of future U.S. administrations to honor the agreement.

For now, the promise of lower gas prices remains just that — a promise. The administration has not offered a clear answer to the question of when consumers might see relief at the pump. The deal's 100-year scope suggests a long-term strategic play rather than an immediate fix for energy prices. Whether the agreement delivers on its promise will depend on factors that are largely beyond the control of any single administration.

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Derek Weston

Sports Writer

Derek Weston covers public affairs, politics, business, culture and daily news for Core Memo. The role focuses on verification, context, and clear explanations for readers.

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