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    Home » Blog » Trump administration denies cutting Venezuelan oil will increase gas prices

    Trump administration denies cutting Venezuelan oil will increase gas prices

    February 26, 2025Updated:February 26, 2025 example-1 No Comments
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    chris wright scaled webp
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    Energy Secretary Chris Wright dismissed worries that Joe Biden‘s decision to revoke compromises made by President Donald Trump to promote completely votes could lead to higher petrol prices abroad.

    ” The objective, for sure, is to push rates down”, Wright told the Washington Examiner Wednesday at the White House. ” America is, by far, the largest supplier of oil and natural gas. If we can increase that output, minor interruptions from other countries won’t result in a net drop in supply.

    Wright declined to speculate whether Trump’s position would shift if Venezuela welcomed more improper Cuban detainees who had been deported from the United States.

    After attending the second Cabinet meeting of Trump’s subsequent management, Wright, who was outside the West Wing, also revealed that Elon Musk, a billionaire investor, had spent the entire time at the sit-down.

    ” It’s like an accountant in a business organization or a specialist that’s working across the whole state”, Wright said of DOGE. Decisions are made at specific division levels, but having that large caliber of resource to arrive in and offer information and ideas as well, it’s just incredible.

    Before Volodymyr Zelensky‘s personal visit to the White House on Friday, during which he is expected to mark a rare earth minerals offer in the hopes that Trump did accept some sort of protection guarantee amid the Russia-Ukraine war, Wright claimed that the deal provided incentives for the United States to safeguard its planned new minerals investment.

    ” You only have tools when capital, and technologies, and equipment come together to make them solutions”, he said. ” If … Ukraine]were ] to have a partnership with the United States, that would certainly give me some security”.

    As of March 1, Trump announced he would undo the “ineffective and met” agreements Biden made for Nicolás Maduro‘s government in Venezuela. Trump’s choice removes a passport that allows the Cuban government to import fuel from Chevron to the United States. Chevron’s Cuban production averages about 220, 000 barrels a day.

    ” We are now reversing the compromises that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the fuel purchase agreement, dated November 26, 2022, and even having to do with Electoral problems within Venezuela, which have not been met by the Maduro regime”, Trump wrote.

    The president added,” Additionally, the regime has not been transporting the violent criminals that they sent into our Country ( the Good Ole’ U. S. A. ) back to Venezuela at the agreed upon speed that they had agreed to.

    We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement, dated November 26, 2022, and also having to do with Electoral conditions within Venezuela, which have not been met by the Maduro regime. …

    — Donald J. Trump Posts From His Truth Social (@TrumpDaily Posts ) February 26, 2025

    Biden’s concessions, which were made in the fall after inflation reached its highest level following the pandemic that summer, did not lead to an unresolved presidential election in Venezuela last year, with observers reporting numerous instances of fraud.

    CLICK HERE TO ACCESS MORE FROM THE WASHINGTON EXAMINER

    After special envoy Richard Grenell‘s trip to Venezuela last month to secure the release of six Americans, Trump had authorized Chevron’s license to automatically renew.

    Since the start of Trump’s second administration, more than 600 Venezuelans have been deported, but the president wants to repatriate thousands more, including 350, 000 of whom had their Temporary Protection Status suspended last month.

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