US Energy Secretary Wright says the US government wants to sell Venezuelan oil and deposit the money into US-controlled accounts, remarks at the Goldman Sachs conference; US government wants to get Venezuelan oil flowing again
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- Want to create conditions for US oil companies to enter Venezuela.
- Money from selling Venezuelan oil will flow back to benefit Venezuelan citizens.
- Estimates Venezuelan oil production could grow by several hundred thousand additional barrels in the short to mid term.
- Can Increase Output By 700K BPD in the mid term.
- Control of Venezuela's oil would give the US large leverage.
- Oil to be turned over by Venezuela to the US will come from storage.
- The former Three Mile Island nuclear plant is in the process of restarting in around 18 months.
- Wish to fill the SPR; is currently being filled, but not at an ideal pace.
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