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LARRY KUDLOW: Drill, baby, drill is throwing the communists out of the Western Hemisphere
Fox Business· 2026-01-08 01:01
Group 1 - The U.S. government is demanding the Venezuelan regime to turn over up to 50 million barrels of sanctioned oil, which will be sold on the market with proceeds controlled by the U.S. [1] - The U.S. oil embargo on Venezuela is aimed at cutting off resources to Cuba, China, and Russia [2] - Increased oil supply from Venezuela is expected to lower prices, potentially bringing them down to $50 per barrel from the current $56 [3] Group 2 - The current oil price decline is seen as a shift from inflation under the Biden administration to deflation under Trump, which could positively impact GDP growth during the midterm election year [4] - The strategy of increasing oil production is linked to restoring the Monroe Doctrine and reducing communist influence in the Western Hemisphere [5]