Trump's Venezuelan Oil Deal Faces Reality Check

President Trump claims that Venezuelan oil will replenish depleted U.S. stockpiles in the Strategic Petroleum Reserve, but experts say it's a long shot.

Last week, the U.S. government struck a deal with Venezuela to take majority control of 65 billion barrels of proven oil reserves in exchange for a 35% equity stake in North American Blue Energy Partners, a private oil company granted concessions by the Venezuelan government.

The plan could face significant hurdles, as Venezuelan heavy crude is physically and chemically incompatible with the Strategic Petroleum Reserve. Rebuilding Venezuela's ailing oil industry will take years, requiring billions of dollars in investment and navigating the country's still-uncertain political landscape.

David Goldwyn, a former federal energy official, predicts that it could be at least two to five years before production reaches the SPR, directly or indirectly.