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The Conversation

Amy Myers Jaffe, Director, Energy, Climate Justice, and Sustainability Lab, and Research Professor, New York University; Tufts University

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

Oil Venezuela United States Nicolás Maduro Donald Trump Hugo Chávez China Amy Myers Jaffe Chevron OPEC

A sculpture of a hand holding an oil rig stands outside the headquarters of Venezuela's national oil company. Pedro Mattey/AFP via Getty Images

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.

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