BREAKING: Venezuela announces NEW DETAILS of historic US oil deal

. IMMEDIATELY JEKYLLED IT FROM MY. MIND. GRIFF: TALKING ABOUT THE BETTING. ON AMERICA, THE PRESIDENT IS. WINNING BIG WHEN IT COMES TO OIL. RESERVES IN VENEZUELA. CHARLIE: IT'S A PRETTY. EXTRAORDINARY DEAL THAT GOT. ANNOUNCED YESTERDAY THAT THE. PRESIDENT MADE WITH THE FORMER. VICE PRESIDENT OF VENEZUELA, DELCY RODRIGUEZ, TO TAKE CONTROL. OF THE RESERVES IN VENEZUELA. IT WILL MAKE OUR RESERVES THE.

LARGEST THAT IT'S EVER BEEN IN. HISTORY. IT'S A DEAL THAT WILL LAST FOR. 25 YEARS, AND IT'S GOING TO BE. REALLY INTERESTING TO LOOK BACK. AT HISTORY WHEN PRESIDENT. TRUMP'S MEMOIRS ARE DONE AND YOU. LOOK AT THE PAST YEAR EVER SINCE. THE ARREST OF NICHOLAS MADURO TO. FIND IF OUT JUST HOW MUCH THIS. PART OF THE VENEZUELA OIL DEAL. WAS PART OF HIS THINKING IN. TAKING OUT MADURO AND OPENING UP.

VENEZUELA, THE LARGEST NATURAL. OIL RESERVES IN THE WORLD, TO. AMERICA. IT DOESN'T MEAN THAT AMERICA. OWNS THE RESERVES, IT MEANS THAT. AMERICA CONTROLS THE RESERVES. AND CAN ENSURE THAT THE OIL. COMES TO MARKET SAFELY AND. FAIRLY. RACHEL: SO THESE ARE THE POINTS. OF THE PLAN. IT SAYS THAT THERE'S A. DEVELOPMENT OF 17 STRATEGIC. FIELDS, THAT PRODUCTION --. THEY'RE GOING THE TARGET 1.5.

MILLION BARRELS PER DAY. VENEZUELA RETAINS OWNERSHIP AND. SOVEREIGNTY OF THE RESOURCES, AS. CHARLIE SAID, AND THAT THE DEAL. WILL BE IN EFFECT FOR 25 YEARS. I KNOW YOU CALLED HER THE. INTERIM PRESIDENT. I CALL HER THE INTERIM DICTATOR. I THINK THAT'S PART OF THE. PROBLEM THAT WE CAN DISCUSS A. LITTLE LATER, BUT HERE IS DELCY. RODRIGUEZ SPEAKING ABOUT THIS. AGREEMENT YESTERDAY IN CARACAS. [SPEAKING SPANISH]. >> TRANSLATOR: ALL OF THIS WILL.

HELP SUPPORT THE COUNTRY'S. RECOVERY AND ADVANCE THE. IMPROVEMENTS THAT ALL. VENEZUELANS WANT, NEED AND. DESERVE. THAT IS WHY WE CHOSE THE PATH OF. DIPLOMACY WITH THE UNITED STATES. OF AMERICA, TO TRANSFORM OUR. DIFFERENCES INTO COOPERATION, AND THAT COOPERATION INTO. INVESTMENT, PRODUCTION, WELL-BEING AND TANGIBLE RESULTS. FOR VENEZUELANS. I THANK PRESIDENT DONALD TRUMP, SECRETARY MARCO RUBIO AND THEIR. ADMINISTRATION FOR THEIR EFFORTS. AS WELL AS OUR OWN GOVERNMENT. AND THE ENTIRE VENEZUELAN TEAM.

THAT DEDICATED ITS TIME THE. REACHING THIS AGREEMENT. GRIFF: YOU KNOW, WHAT'S REALLY. SIGNIFICANT ABOUT THAT IS WHEN. YOU LOOK BACK AT THE HISTORY, IT. WAS BACK WHEN THE LATE DICTATOR. OF VENEZUELA, HUGO CHAVEZ, MOVED. TO NATIONALIZE THE OIL INDUSTRY. IN VENEZUELA. IT REALLY WAS A SETBACK FOR. AMERICAN INTERESTS, AMERICAN. COMPANIES HAD TO WITHDRAW. AND YOU HAD THINGS LIKE CHINA. GOING IN THERE AND THEIR. INFLUENCE. AND THIS IS REALLY, I THINK,

GOING TO BE LOOKED BACK IN THE. HISTORY BOOKS AS A PART OF THE. DONROE DOCTRINE. AND WHEN YOU TALK ABOUT THE. TOTAL 65 MILLION BARRELS OF --. BILLION BARRELS OF OIL RESERVES, THAT IS GOING TO BOLSTER OUR OWN. STRATEGIC PETROLEUM RESERVES, BUT ALSO LEAD TO EVENTUALLY. LOWER GAS PRICES. AND IT ELIMINATES THE INFLUENCES. OF PEOPLE LIKE CHINA IN THE. SOUTHERN HEMISPHERE. RACHEL: THIS HAS BEEN THE. REACTION OF DEMOCRATS ON THIS,

AND WE'LL TALK ABOUT BOTH SIDES. WHEN WE SHOW YOU, AFTER WE SHOW. YOU THIS CLIP. SO SENATOR VAN IS HOLDEN SAYS. LET'S IF CLEAR, THIS IS PROOF. THAT TRUMP PUT OUR SERVICE. MEMBERS AT RISK TO GET. VENEZUELAN OIL FOR HIS. BILLIONAIRE BUDDIES, PUTTING OUR. SOLDIERS' LIVES ON THE LINE FOR. PRIVATE PROFIT IS A GROSS. DERELICTION OF HIS. CONSTITUTIONAL DUTY. SENATOR TIM KAINE FROM VIRGINIA. SAID, NOW WE SEE WHY TRUMP. INVADED VENEZUELA AND REMOVED.

THE DICTATOR, MADURO, BUT KEPT. HIS VP IN POWER WHILE BLOCKING. MARIA KATRINA MACHADO SO THE --. CORINA MACHADO. MEANWHILE, PHIL FLYNN WHO'S AN. OIL EXPERT WHO COMES ON OUR SHOW. QUITE OFTEN, HE SAYS THAT THIS. IS A GENERATIONAL WIN. LISTEN. >> THIS IS HISTORIC.

IT'S UNLIKE ANYTHING WE'VE. REALLY SEEN BEFORE. A LOT OF PEOPLE ARE WORRIED. ABOUT US DRAWING DOWN OUR. STRATEGIC PETROLEUM RESERVE. NOW WE HAVE THE BIGGEST. STRATEGIC PETROLEUM RESERVE IN. HISTORY, IT'S CALLED VENEZUELA. I THINK THIS IS A WIN. IT'S A GENERATIONAL WIN FOR. AMERICANS BECAUSE IT IS GOING TO. LEAD TO A GENERATION OF LOW. PRICES, AND IT'S A WIN FOR THE. PEOPLE OF VENEZUELA AS WELL. BECAUSE THE UNITED STATES HAS. THE TECHNOLOGY AND THE PEOPLE TO. DEVELOP THOSE OIL FIELDS UNLIKE. ANYTHING VENEZUELA HAS BEEN EVER.

ABLE TO DO IN HISTORY. CHARLIE: AND WHEN YOU WRAP THIS. UP INTO ALL OF THE PROBLEMS THAT. WE HAVE SEEN ACROSS THE MIDDLE. EAST IN PARTICULAR IN THE LAST. SIX OR EIGHT MONTHS, IT IS KIND. OF REMARKABLE THAT GAS PRICES. ARE AT $4 AND ARE NOT A WHOLE. LOT HIGHER THAN THAT. AND WHEN YOU THINK ABOUT THE. FACT THAT GAS PRICES ARE NOT. JUST AVAILABLE, GAS AND OIL. GAS PRICES ARE VERY MUCH. IMPRINTED BY, BASED ON MARKETS.

AND WHEN MARKETS SEE SOMETHING. LIKE THE LARGEST OIL RESERVES IN. THE WORLD ACCESSIBLE TO THE. MARKETS, THEY GIVE A LITTLE BIT. OF FORGIVENESS TO THE FACT THAT. YOU HAVE THESE SHORTER TERM. PROBLEMS IN A PLACE LIKE THE. MIDDLE EAST. AND SO --. RACHEL: IT'S DEFINITELY GOOD FOR. THE MIDTERMS, NO QUESTION ABOUT. THAT, CHARLIE. I DO THINK ECONOMICALLY, OBVIOUSLY, THERE ARE HUGE. UPSIDES FOR THE UNITED STATES. AND, YES, IT'S TRUE THAT. VENEZUELA CANNOT -- HAVING THE.

UNITED STATES VERSUS CHINA. DEVELOPING THEIR OIL IS. PREFERABLE. ON THE OTHER HAND, THERE'S A LOT. OF PEOPLE -- MAYBE, AND MYSELF. INCLUDED, CALL ME POLLYANNA, CALL ME AN IDEALIST, MAYBE I WAS. A LITTLE TOO NAIVE HERE. I THOUGHT THE PRIMARY PURPOSE OF. TAKING OUT NICOLAS MADURO WAS. BECAUSE HE WAS A COMMUNIST. DICTATOR AND WE WERE ACTUALLY. GOING TO ALLOW THE VENEZUELAN. PEOPLE --.

CHARLIE: -- CHARGES --. RACHEL: EXACTLY. THERE WAS THAT. BUT ALSO THAT WE WERE GOING TO. LIBERATE THE VENEZUELAN PEOPLE. FROM THEIR OPPRESSORS. AND SO I THINK IN VENEZUELA THE. REVIEWS ON THIS ARE VERY MIXED, MOSTLY NEGATIVE. AMONG THEM NOT BECAUSE THEY'RE. NOT HAPPY ABOUT THE POTENTIAL. ECONOMIC UPSIDES, BUT THEY DON'T. TRUST DELCY RODRIGUEZ. THEY DON'T TRUST DELL CITIED. RODRIGUEZ TO MAKE SURE THAT THE. ECONOMIC BENEFITS GO TO THE. AMERICAN PEOPLE AND MOSTLY. BECAUSE THEY REALLY WANT. ELECTIONS.

AND I THINK THAT THE PRESIDENT. AND MARCO RUBIO, UNTIL THESE. ELECTIONS HAPPEN, THERE WILL BE. A LOT OF QUESTIONS NOT JUST IN. VENEZUELA, BUT IN ALL OF LATIN. AMERICA AND THOSE WHO CARE ABOUT. LATIN AMERICA AND FREEDOM IN. LATIN AMERICA. UNTIL THERE ARE ELECTIONS, THERE. WILL BE A LOT OF QUESTIONS ABOUT. MOTIVATIONS HERE AND WHETHER THE. INTERESTS OF THE VENEZUELAN. PEOPLE ARE AT HAND. THAT DOESN'T MEAN THAT THIS DEAL. IS NOT, YOU KNOW, GOOD FOR. AMERICA. IT DOESN'T MEAN THAT IN THE. FUTURE IT MIGHT, THE VENEZUELAN. PEOPLE MIGHT VERY GREATLY.

BENEFIT FROM IT. BUT THE WILL OF THE PEOPLE IS. STILL NOT IN PLACE. DELCY RODRIGUEZ IS PART -- IS A. COMMUNIST. SHE'S PART OF THE OLD REGIME, AND THE VENEZUELAN PEOPLE VERY. MUCH WANT AN ELECTION. AND I THINK IF THAT ELECTION. WERE TO TAKE PLACE TODAY, I DO. [BLEEP] MA.