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Texas Oil Workers Struggle Amid Trump's Venezuelan Oil Strategy

1/14/2026

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Summary

Story summary

The Wall Street Journal reports that workers in Texas's Permian Basin oil industry face hardship due to U.S. President Donald Trump's Venezuelan invasion, which could flood markets with cheap oil.
Trump aims to lower oil prices to $50 per barrel, but it strains workers who liquidate assets.
Nemecio Torres, a local restaurant owner and Trump supporter, reports 30% revenue drop and has laid off staff, signaling impact on West Texas.

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Story summary

The Wall Street Journal reports that workers in Texas's Permian Basin oil industry face hardship due to U.S. President Donald Trump's Venezuelan invasion, which could flood markets with cheap oil.
Trump aims to lower oil prices to $50 per barrel, but it strains workers who liquidate assets.
Nemecio Torres, a local restaurant owner and Trump supporter, reports 30% revenue drop and has laid off staff, signaling impact on West Texas.