Venezuela Oil Deal Won't Fix Gas Prices | Chattanooga News

Venezuela’s massive oil reserves could reshape energy markets—but don’t expect gas prices to drop anytime soon. With 65 billion barrels spread across 17 fields, a new U.S.-led joint venture aims to unlock production, but experts warn it’s a 15-year marathon, not a sprint. Venezuela’s heavy crude is tough for U.S. refineries, and past betrayals—like ExxonMobil and ConocoPhillips losing assets to nationalization—still haunt investors. While the U.S. government holds majority control in this new deal, legal risks and sluggish output mean immediate impact? Almost zero. Gas prices remain tied to Middle East tensions—not Venezuela’s pipeline. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9b4f806d9fc6a698