WASHINGTON – President Donald Trump name-checked Louisiana as one of the places that will benefit from his new deal to open Venezuelan oil fields to U.S. control in hopes of lowering prices at the pump.
That’s because Louisiana refineries once received much of Venezuela’s product before that country’s mismanagement and U.S. sanctions reduced the flow to a trickle. Gulf Coast facilities have the expertise and technology to turn Venezuela’s heavy, viscous crude into the gases and distillates that become gasoline, jet fuel, truck diesel and other consumer products, but also thicker products like asphalt, chemicals and plastics.
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