Back in Houston (one month ago):
A judge has approved the sale of Citgo, a Houston-based petroleum company, to Amber Energy following a years-long legal saga.Oil prices aren’t expected to rise, despite recent events:
A court previously found that Citgo's shares could be auctioned to pay off the debts that its state-owned parent company – Petroleos de Venezuela – owed to a Canadian mining company.
J.P. Duffy is an international arbitration partner at the Houston-based law firm Bracewell. He said the Venezuelan government faced mounting debts, as the country grappled with falling oil prices and political instability.
Gas prices are projected to average just $2.97 a gallon nationally this year, according to forecasts from fuel savings platform GasBuddy.Political instability hasn’t improved in Venezuela, Trump has threatened to make it worse if he doesn’t get what he wants from their oilfields.
If that forecast, shared first with CNN, proves accurate, 2026 will be the fourth straight year of falling prices at the pump and the first with the annual average below $3 a gallon since 2020.
Trump really lives in a fantasy land. This is a bigger problem than anyone wants to acknowledge.“This idea oil companies will rush to 🇻🇪— that’s not a thing. Ludicrous. It’ll take $100 BILLION to restore the infrastructure.”@MrGlobal2025 says Trump invaded to look tough + distract from Epstein, as 🇺🇸oil companies play along to keep him happy
— The Tennessee Holler (@TheTNHoller) January 5, 2026
Full: https://t.co/Edi80mLEbc pic.twitter.com/ZXlaiX3Iuv
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