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Venezuela announces NEW DETAILS of historic US oil deal · DEEP INSIGHT

• 0:00
  Speaker 1: Talking about betting on America, the president is winning big
• 0:03
  Speaker 1: when it comes to oil reserves in Venezuela.
• 0:06
  Speaker 2: Yes, indeed.
• 0:07
  Speaker 3: It's a pretty extraordinary deal that got announced yesterday that
• 0:12
  Speaker 3: the president made with the former vice president of Venezuela,
• 0:18
  Speaker 3: Delce Rodriguez, to take control of the reserves in Venezuela.
• 0:24
  Speaker 3: It will make our reserves the largest that it's ever
• 0:28
  Speaker 3: been in history. It's a deal that will last for
• 0:31
  Speaker 3: 25 years. And it's going to be really interesting to
• 0:33
  Speaker 3: look back at history when President Trump's memoirs are done.
• 0:39
  Speaker 3: And you look at the past year ever since the
• 0:42
  Speaker 3: arrest of Nicolas Maduro. to find out just how much
• 0:47
  Speaker 3: this part of the Venezuela oil deal was part of
• 0:52
  Speaker 3: his thinking in taking out Maduro and opening up Venezuela,
• 0:59
  Speaker 3: the largest natural oil reserves in the world, to America.
• 1:04
  Speaker 3: It doesn't mean that America owns the reserves. It means
• 1:06
  Speaker 3: that America controls the reserves and can ensure that... that
• 1:12
  Speaker 3: the oil comes to market safely and fairly.
• 1:15
  Speaker 2: So these are the points of the plan. It says
• 1:19
  Speaker 2: that there's a development of 70 strategic fields. That production,
• 1:24
  Speaker 2: they're going to target 1.5 million barrels per day. That
• 1:29
  Speaker 2: as well retains ownership and sovereignty of the resources, as
• 1:32
  Speaker 2: Charlie said. and that the deal will be in effect
• 1:36
  Speaker 2: for 25 years. I know you called her the interim president.
• 1:41
  Speaker 2: I call her the interim dictator. I think that's part
• 1:43
  Speaker 2: of the problem that we can discuss a little bit later.
• 1:45
  Speaker 2: But here is that interim dictator, Delcy Rodriguez, speaking about
• 1:50
  Speaker 2: this agreement yesterday in Caracas.
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  Speaker 4: All of this will help support the country's recovery and
• 1:58
  Speaker 4: advance the improvements that all Venezuelans want, need and deserve.
• 2:03
  Speaker 4: That is why we chose the path of diplomacy with
• 2:06
  Speaker 4: the United States of America to transform our differences into cooperation,
• 2:11
  Speaker 4: and that cooperation into investment, production, well-being, and tangible results
• 2:16
  Speaker 4: for Venezuelans. I thank President Donald Trump, Secretary Marco Rubio,
• 2:22
  Speaker 4: and their administration for their efforts, as well as our
• 2:25
  Speaker 4: own government and the entire Venezuelan team that dedicated its
• 2:29
  Speaker 4: time to reaching this agreement.
• 2:32
  Speaker 1: You know, what's really significant about that is when you
• 2:34
  Speaker 1: look back at the history, it was back when the
• 2:38
  Speaker 1: late dictator of Venezuela, Hugo Chavez, moved to nationalize the
• 2:42
  Speaker 1: oil industry in Venezuela. It really was a setback for
• 2:47
  Speaker 1: American interest. American petroleum companies had to withdraw. And you
• 2:50
  Speaker 1: had things like China. going in there and their influence.
• 2:55
  Speaker 1: And this is really, I think, going to be looked
• 2:57
  Speaker 1: back in the history books as a part of the
• 3:00
  Speaker 1: Donro doctrine. And when you talk about the total 65
• 3:03
  Speaker 1: billion barrels of oil reserves that is targeted in this deal,
• 3:08
  Speaker 1: that is going to, for decades, bolster not only our
• 3:12
  Speaker 1: own strategic petroleum reserves, but also lead to eventually lower
• 3:18
  Speaker 1: gas prices and And it eliminates the influences of people
• 3:22
  Speaker 1: like China in the southern hemisphere.
• 3:25
  Speaker 2: This has been the reaction of Democrats on this. And
• 3:27
  Speaker 2: we'll talk about both sides when we show you that
• 3:31
  Speaker 2: after we show you this clip. So Senator Van Hollen said,
• 3:34
  Speaker 2: let's be clear, this isn't a win. This is proof
• 3:37
  Speaker 2: that Trump put our service members at risk to get
• 3:40
  Speaker 2: Venezuelan oil for his billionaire buddies. Putting our soldiers' lives
• 3:44
  Speaker 2: on the line for private profit is a gross dereliction
• 3:47
  Speaker 2: of his constitutional duty. Then Senator Tim Kaine from Virginia said,
• 3:53
  Speaker 2: now we see why Trump invaded Venezuela and removed the
• 3:56
  Speaker 2: dictator Maduro, but kept his VP in power while blocking
• 4:00
  Speaker 2: opposition leader and Nobel laureate Maria Corina Machado from returning
• 4:04
  Speaker 2: home and delaying all talk of elections so the U.S.
• 4:08
  Speaker 2: could control Venezuelan oil in violation of its constitution. Meanwhile,
• 4:14
  Speaker 2: Phil Flynn, who is an oil trader and an oil
• 4:17
  Speaker 2: expert who comes on our show quite often, he says
• 4:21
  Speaker 2: that this is a generational win.
• 4:23
  Speaker 4: Listen.
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  Speaker 5: This is historic. It's unlike anything we've really seen before.
• 4:29
  Speaker 5: You know, and a lot of people are worried about
• 4:31
  Speaker 5: us drawing down our strategic petroleum reserve. Now we have
• 4:35
  Speaker 5: the biggest strategic petroleum reserve in history. It's called Venezuela.
• 4:39
  Speaker 5: But I think this is a win. It's a generational
• 4:42
  Speaker 5: win for Americans because it is going to lead to
• 4:44
  Speaker 5: a generation of low prices. And it's a win for
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  Speaker 5: the people of Venezuela as well because the United States
• 4:51
  Speaker 5: has the technology and the people to develop those oil fields.
• 4:55
  Speaker 5: unlike anything Venezuela has been ever able to do in history.
• 5:00
  Speaker 3: And when you wrap this up into all of the
• 5:01
  Speaker 3: problems that we have seen across the Middle East, in
• 5:04
  Speaker 3: particular in the last six or eight months, it is
• 5:08
  Speaker 3: kind of remarkable that gas prices are at $ 4 and
• 5:12
  Speaker 3: are not a whole lot higher than that. And when
• 5:15
  Speaker 3: you think about the fact that gas prices are not
• 5:18
  Speaker 3: just available gas and oil, gas prices are very much
• 5:24
  Speaker 3: imprinted based on markets. And when markets see something like
• 5:28
  Speaker 3: the largest oil reserves in the world accessible to the markets,
• 5:33
  Speaker 3: they give a little bit of forgiveness to the fact
• 5:38
  Speaker 3: that you have these shorter-term problems in a place like
• 5:40
  Speaker 3: the Middle East. And so— It's definitely good for the midterms.
• 5:44
  Speaker 2: There's no question about that, Charlie. I do think that
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  Speaker 2: even though economically there obviously are huge upsides to the
• 5:51
  Speaker 2: United States, and yes, it's true that Venezuela cannot— you know,
• 5:55
  Speaker 2: having the United States versus China developing their oil is preferable.
• 6:00
  Speaker 2: On the other hand, there's a lot of people, maybe
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  Speaker 2: myself included, call me Pollyanna, call me an idealist. Maybe
• 6:11
  Speaker 2: I was a little too naive here. I thought the
• 6:14
  Speaker 2: primary purpose of taking out Nicolas Maduro was because he
• 6:18
  Speaker 2: was a communist dictator and we were actually going to
• 6:23
  Speaker 2: allow the Venezuelan people to affect their.
• 6:27
  Speaker 2: Exactly. There was that, but also that we were going
• 6:30
  Speaker 2: to liberate the Venezuelan people from their oppressors. And so
• 6:34
  Speaker 2: I think in Venezuela, the reviews on this are very mixed,
• 6:38
  Speaker 2: mostly negative among them, not because they're not happy about
• 6:43
  Speaker 2: their the potential economic upsides, but they don't trust Delcy Rodriguez.
• 6:48
  Speaker 2: They don't trust Delcy Rodriguez to make sure that the
• 6:50
  Speaker 2: economic benefits go to the American people, and mostly because
• 6:54
  Speaker 2: they really want elections. And I think that the president
• 6:58
  Speaker 2: and Marco Rubio, until these elections happen, there will be
• 7:01
  Speaker 2: a lot of questions, not just in Venezuela, but in
• 7:04
  Speaker 2: all of Latin America. And those who care about Latin
• 7:06
  Speaker 2: America and freedom in Latin America— Until there are elections,
• 7:12
  Speaker 2: there will be a lot of questions about motivations here
• 7:15
  Speaker 2: and whether the interests of the Venezuelan people are at hand.
• 7:18
  Speaker 2: That doesn't mean that this deal is not, you know,
• 7:21
  Speaker 2: good for America. It doesn't mean that in the future
• 7:23
  Speaker 2: it might— the Venezuelan people might, you know, very greatly benefit
• 7:27
  Speaker 2: from it. But the will of the people is still
• 7:30
  Speaker 2: not in place. Delcy Rodriguez is part— is a communist. She's
• 7:34
  Speaker 2: part of the old regime. And the Venezuelan people very
• 7:38
  Speaker 2: much want an election. And I think if that election
• 7:41
  Speaker 2: were to take place today, I do believe Maria Karina
• 7:44
  Speaker 2: Machado would be in charge. And so we will see
• 7:46
  Speaker 2: how this unfolds. We're following it very closely.