US-Venezuela Oil Deal Sparks Skepticism Over Legitimacy and Benefits

The US government has announced an agreement to develop Venezuela's vast oil reserves in a joint venture. Under the deal, the U.S. would get 55% of the oil from the project, which is estimated to contain around 65 billion barrels.

Energy experts are skeptical about the deal's benefits, with some questioning how it will work since the US doesn't have a national oil company. Francisco Monaldi, director of the Latin America Energy Program at Rice University, described the idea as 'extremely unusual'.

Gerald Kepes, president of Competitive Energy Strategies, also expressed concerns about the deal's legitimacy due to the involvement of acting President Delcy Rodríguez, who was not elected.