Trump claimed U.S. growth could hit 20%, a rate almost never seen in modern history
The U.S. economy grew at just 1.5% in the second quarter of 2026, and only one quarter since 1947 has ever hit 20% growth
President Trump's historic Venezuelan oil deal features Alejandro Betancourt, a 46-year-old Venezuelan oil baron who has a history of backing U.S. interests. Betancourt's role is crucial in an unprecedented partnership with the Pentagon, granting America access to Venezuela's oil fields as the nation's reserves dwindle. Betancourt's life has been marked by significant deals, international intrigue, and a money-laundering probe.
He played a key role in feeling out Venezuelan Vice President Delcy Rodriguez on whether she would take over as the government's leader if Maduro was removed. Betancourt also liaised with the U.S. administration, ensuring the flow of oil and economic stability in post-Maduro Venezuela. The deal allows Venezuela to receive between 16% to 40% of production, with the U.S. putting no money into the deal but taking a 35% equity stake and receiving 20% of the after-tax oil at production cost.
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