We are learning more this week as oil giant Chevron confirmed that it will expand operations in Venezuela. This comes after President Donald Trump announced a deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits. U.S. Energy Secretary Chris Wright on Wednesday attended a ceremony in Venezuela’s capital to sign new agreements with the South American country’s government. LiveNOW’s Austin Westfall is speaking with Ed Hirs, an University of Houston Energy Fellow, as we learn more about how these deals will impact consumers.
“President Trump’s mission in Venezuela is straightforward. The mission is to bring peace, freedom, opportunity and prosperity to the people of Venezuela,” Wright reportedly said in Caracas. “I believe the deals that are signed today – tens of billions of dollars of investment, ultimately many thousands of jobs – are critical in starting this ball rolling of peace, opportunity and prosperity for everyone in Venezuela.”
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