Rep. Casten Introduces Bill Mandating GAO Audit of Trump Administration’s Venezuela Oil Deal

Trump announced Venezuela would hand over 30–50 million barrels of oil to the U.S., valued at up to $2.8 billion at market prices

Oil sale proceeds are being held in a Qatari bank account — not the U.S. Treasury — with disbursements at the Secretary of State's discretion

Venezuela holds 303 billion barrels in proven oil reserves — the largest of any country — roughly 17% of the global total

Venezuela currently produces about 934,000 barrels of oil per day — less than one-third of its late-1990s peak of over 3 million bpd

Restoring Venezuela's oil output to 3 million bpd would require $183 billion in investment through 2040 — and current oil prices are below the project breakeven