Trump's Gas Price Fix May Be Too Little, Too Late

The gasoline price crisis in the US continues to plague President Trump ahead of the midterms. With prices soaring above $4 per gallon, up over 90% from last year, Trump has been trying to find ways to secure more crude oil and lower costs at the pump.

In an effort to address the issue, Trump's administration has turned its attention to Venezuela, where it hopes to revive the country's moribund oil industry. The Pentagon announced a deal with North American Blue Energy Partners, a private Venezuelan company that controls 20% of the country's reserves, and Chevron doubled its production in the country.

However, experts say that even if these efforts succeed, they will have little impact on gasoline prices. The main problem is a lack of refining capacity to process the available oil, not a shortage of crude itself.