Trump Secures Access to Venezuela's Vast Oil Reserves in Sweeping Deal

President Donald Trump has announced a deal to give the US access to Venezuela's vast oil reserves, calling it 'THE BIGGEST OIL DEAL IN WORLD HISTORY'. The agreement would see the US get a 55% effective output of a new private company formed with an unnamed operator in Venezuela, including an ownership stake and rights to buy oil at cost.

The deal involves developing 17 fields with a proven potential of 65 billion barrels and could draw $100 billion in investment into Venezuela's oil industry and yield over $209 billion in taxes for Caracas. The US will get its share of the oil, which will be used to fuel its military and strategic reserves.

The White House has been tight-lipped about the details of the deal, but experts warn that repairing Venezuela's dilapidated oil infrastructure will take years and billions of dollars. They also question who will pay for the necessary investments and at what cost.