Trump suggests US could stay in Iran to ‘keep the oil’ as in Venezuela

Trump also predicted a sharp decline in fuel costs once the fighting is over, saying the price of gasoline will “drop like a rock.”

By Vered Weiss, World Israel News

President Trump suggested the United States could maintain a presence in Iran and retain control of its oil after the conflict, comparing the possibility to US involvement in Venezuela as rising energy prices put pressure on American consumers.

Speaking at the Irish Open golf championship, Trump raised the prospect while discussing an eventual US departure from Iran.

“”We’ll ultimately get out (of Iran), unless we decide to stay and keep the oil like Venezuela,” saying U.S. revenue from Venezuela has “paid for the war many times.”

Trump also predicted a sharp decline in fuel costs once the fighting is over, saying the price of gasoline will “drop like a rock.”

The president announced in August that the United States had obtained majority control over more than 65 billion barrels of Venezuela’s proven oil reserves through an arrangement with private business.

Delcy Rodriguez, who took over as interim leader after the United States seized President Nicolas Maduro in January, supported the agreement, saying it would increase government revenue and benefit Venezuela’s economy.

On prospects for negotiations with Tehran, Trump said he would agree only to the “right deal” and reject one that was “no good.” He also claimed Iran was “calling constantly” seeking peace negotiations, an assertion Tehran has previously rejected.

Trump’s comments come as the Iran conflict continues to affect global energy markets. Restrictions on traffic through important maritime routes, including the Strait of Hormuz, have contributed to Brent crude climbing above $100 a barrel.

Higher oil costs have translated into increased gasoline prices in the United States, adding an economic issue to the approaching midterm elections.

The Trump administration has characterized the financial burden on Americans as temporary and necessary in pursuit of longer-term national security objectives.

Continued elevated oil prices through November could create additional political difficulties for Republicans as the party attempts to preserve its narrow majorities in Congress.