Why unlocking Venezuelan oil won’t mean much for US energy prices

Political chaos, sanctions and technical mismanagement of the oil industry may have taken a heavy toll on the industry.

By: Amy Myers Jaffe, New York University; Tufts University, The Conversation

Outlets: The Conversation

Published: January 13, 2026

Words: 1,672

Last Updated: 2 months, 1 week ago

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By Amy Myers Jaffe, New York University; Tufts University

In the wake of U.S. forces’ arrest of Venezuelan President Nicolás Maduro, U.S. President Donald Trump has said the U.S. is taking over Venezuelan oil production.

In addition, the U.S. has blockaded Venezuelan oil exports for a few weeks and seized tankers that reportedly escaped from the blockade.

To understand what’s happening and what it means for U.S. consumers and the American energy industry, …

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