President Donald Trump is presenting a US stake covering 65 billion barrels of Venezuelan oil as a way to reduce gasoline prices and replenish depleted crude reserves, although the plan may not achieve either objective during his presidency, if at all. The proposed venture would involve 17 oil fields and an expected $100 billion in investment, but the White House has not explained how the funding would be raised. North American Blue Energy Partners, the private operator working with the US, is not large enough to finance the project alone, while Trump has said taxpayer money will not be used. The initiative followed frustration that private companies including ExxonMobil Holdings Corp. and ConocoPhillips were not moving quickly enough to increase Venezuelan production. Analysts say the political benefit is immediate, while additional output would require years, substantial capital, infrastructure repairs and reliable electricity. With November's midterm elections approaching, the administration is under pressure to lower fuel prices, which have been lifted by supply disruptions through the Strait of Hormuz. Vice President JD Vance said Venezuelan production has helped keep crude prices more stable. US Energy Secretary Chris Wright is expected to visit Caracas later this week, where officials plan to present more than a dozen separate oil and gas agreements, including previously signed contracts and memorandums of understanding. Chevron Corp. is negotiating to add two heavy-oil fields, GeoPark Ltd. is pursuing the Bare field in the Orinoco Oil Belt, and Hunt Oil Co. has signed an agreement covering the Caro and Carisito fields. Acting President Delcy Rodríguez also named Repsol, Eni SpA, Shell Plc and BP Plc as expected participants in additional agreements. Rodríguez wants output to exceed 1.5 million barrels a day, about 30% above current levels, but that would still be less than half the nearly 3.5 million barrels a day produced in the late 1990s before Hugo Chávez nationalized the industry. Investor concerns include unresolved legacy claims, uncertain contracts, weak infrastructure and the possibility that future US and Venezuelan leaders will abandon the strategy. A visible project pipeline could nevertheless help persuade markets that more Venezuelan crude will eventually reach them.