The Shadow Deal in Caracas: What It Means for Oil, Power, and America's Interests The White House has announced that the United States now holds majority control over 65 billion barrels of Venezuelan oil reserves.
On its face, this deal appears to be a straightforward win win: American oil companies gain access to vast new resources, while Venezuela receives much needed investment and an opportunity to revive its crippled economy.
The Oil Card in Venezuela Venezuela has long been mired in crisis, with its economy in shambles and oil production plummeting.