The U.S. oil deal with Venezuela.
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Mm. From executive producer Isaac Saul, this is Tangle.
Good morning, good afternoon, and good evening, and welcome to the Tangle Podcast, a place to get views from across the political spectrum, some independent thinking, and a little bit of my take. I'm your host, Isaac Saul, and uh welcome to September. It's September 1st, and uh one upside of being an adult, September 1st no longer means the end of summer. I have no school to return to, no new realities to face. I have three more weeks. of long summer nights, warm evenings, ice cream, beaches, laid back Fridays. I do not care what anyone says or if a fall chill has started to poke its head up here in New Jersey. Summer ends September twenty second and not a day earlier. That's where I'm drawing my line in the sand.
Today, we are diving into the US-Venezuela oil deal, plus an opportunity to submit questions for our reader mailbag and a reader question about the flooding in Nepal. It is a 14-minute read. I'm going to be joined by senior editor Will K-back on today's podcast. I'm going to pass it over to Will. And I'll be back for my take.
Thanks, Isaac. Here are today's quick hints. The Supreme Court ruled five to four that President Donald Trump can continue construction of a new White House ballroom while challenges to the project continue in lower courts. Chief Justice John Roberts and the court's three Democratic appointed justices dissented. Number two, Army Secretary Dan Driscoll has reportedly submitted his resignation and plans to depart the Pentagon in the coming days. Driscoll has reportedly clashed with Defense Secretary Pete Hegseth over his strategic vision and firings of key military leadership. Number three, the Federal Trade Commission and twenty two states sued Amazon for allegedly not disclosing surcharges to its online search advertising auctions, creating deceptively higher prices to advertise on its platform.
For a federal judge granted a Justice Department request to delay a lawsuit seeking to revoke the Food and Drug Administration's approval of Mythoprestone, a drug used in medication abortions. The case will be paused until December first or until the FDA finishes its safety review of the drug, whichever comes first. And finally, the prediction marketplace Calci issued a lifetime ban to former Representative George Santos, a Republican from New York, who allegedly bet on whether he would attend President Trump's State of the Union address earlier this year.
So the US is taking control of sixty-five billion barrels of oil reserves from Venezuela. President Trump announcing what he called the biggest oil deal in world history, saying quote this historic transaction more than doubles American oil reserves, greatly increases our oil supply, and will substantially lower gas prices for all Americans long into the future.
On Friday, President Donald Trump announced an agreement to make the United States government a direct investor in the production of Venezuelan oil. Under the reported terms of the deal, the US will take a stake in a private Venezuelan company that will be given the rights to develop seventeen oil fields believed to contain sixty five billion barrels of oil. President Trump said the deal will help build up US oil reserves, bring down gas prices, and promote investment and production in Venezuela from other US energy companies. Interim Venezuelan president Delcy Rodriguez said the deal will economically benefit her country and revitalize its energy industry. In January of twenty twenty six, the US conducted a military operation to arrest then Venezuelan president Nicolas Maduro and bring him to the United States to face drug trafficking charges.
Rodriguez was Maduro's vice president at the time, and she has since served as the country's interim president with backing from the Trump administration. President Trump has said he would work with President Rodriguez to open Venezuela to US oil companies and rebuild its energy infrastructure, which has suffered from underinvestment and political instability.
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