Topic: Venezuela

Jason Calacanis presents a "3x3" media analysis focusing on President Donald Trump's announcement of a deal to take control of 65 billion barrels of Venezuelan oil. Canadian Premier Doug Ford and Senator Ted Cruz offer differing perspectives on the geopolitical implications and the necessity of free elections in Venezuela. Curry argues the deal is a midterm ploy to lower gas prices despite the technical difficulty of processing heavy Venezuelan crude.

Adam Curry wraps up the interview with Jason Calacanis and plays a satirical summary of the Trump-Venezuela oil deal. The segment highlights the lack of a formal contract and the logistical hurdles of the 65-billion-barrel claim. It frames the announcement as a "midterm slogan" designed to distract from the lowest Strategic Petroleum Reserve levels in 44 years.

Reports from Axios indicate the Trump administration is in talks with Venezuela's interim government regarding an ownership stake in the country's oil resources. Matt Long recounts his personal travels to Maracaibo, describing the decay of oil infrastructure after the expulsion of American operators like Chevron.

U.S. energy companies, including Hunt Oil and SLB (formerly Schlumberger), have signed new deals with Venezuela to expand oil and gas production following a Houston energy conference. Simultaneously, President Trump has signaled a desire to revive the Keystone XL Pipeline, referring to it as a "zombie pipeline" that could provide economic leverage for Canada. These moves represent a broader effort to stabilize energy markets disrupted by the conflict in the Middle East.