DogMan · 61-69, M
MoneyWatch
More Venezuelan oil is coming to the U.S. Here's what that means for gas prices.
By Rachel Gold
January 16, 2026 / 6:23 PM EST / CBS News
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The Trump administration says it has completed the first sale of Venezuelan oil to the U.S. — a shipment the president valued at $500 million.
It's part of the administration's push to tap into Venezuela's oil reserves, some of the largest in the world.
What does that mean for U.S. drivers?
Gas is currently at $2.67 a gallon nationally, the lowest it's been since May 2021. But prices have been steadily declining since last November, weeks before the U.S. military operation that captured Venezuela's autocratic leader, Nicolás Maduro.
Will Venezuelan oil push prices even lower?
Economists are divided on when or how much these developments
More Venezuelan oil is coming to the U.S. Here's what that means for gas prices.
By Rachel Gold
January 16, 2026 / 6:23 PM EST / CBS News
This didn't age well!
Add CBS News on Google
The Trump administration says it has completed the first sale of Venezuelan oil to the U.S. — a shipment the president valued at $500 million.
It's part of the administration's push to tap into Venezuela's oil reserves, some of the largest in the world.
What does that mean for U.S. drivers?
Gas is currently at $2.67 a gallon nationally, the lowest it's been since May 2021. But prices have been steadily declining since last November, weeks before the U.S. military operation that captured Venezuela's autocratic leader, Nicolás Maduro.
Will Venezuelan oil push prices even lower?
Economists are divided on when or how much these developments
Midlifemale · 61-69, M
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ImperialAerosolKidFromEP · 51-55, M
Ooo, cement..! Great, now my politicos won't need any more care packages 😒
AthrillatheHunt · 51-55, M
The spice MUST flow
DanielsASJ · 36-40, M
@Theyitis Venezuela is unofficially the 52nd state of America
SunshineGirl · 36-40, F
So oil production is accelerating. I'd like to see more evidence of how this is benefiting Venezuela's economy as a wholecrather than just the balance sheets of a handful of foreign oil companies (who are presumably recruiting their specialist workforces mainly from outside the country).
How is the 14% increase in cement output related to the increase in oil production?
How is the 14% increase in cement output related to the increase in oil production?
SunshineGirl · 36-40, F
@DogMan If that makes you happy. However, without state intervention, the fruits of capitalist enterprise remain in the pockets of the few and are almost invariably inefficiently distributed . . to the detriment of long term economic development.
DogMan · 61-69, M
@SunshineGirl Everything good that has been developed, has come about because of Capitalism.
Socialism does not offer incentive, Capitalism does.
Socialism does not offer incentive, Capitalism does.