The US says it has taken majority control of Venezuela's oil reserves, a move being sold as cheaper gas but which looks costly and politically driven.

• Trump announced a deal giving the US control of more than 65 billion barrels of Venezuelan reserves, claiming it will cut gas prices.
• The timing looks convenient: US oil reserves just hit a 40-year low, and the announcement landed late on a Friday.
• Getting the oil out will not be free — 17 aging fields need billions in repairs, transport links, and security in dangerous areas.
• A key middleman in the deal, Venezuelan oil businessman Alejandro Betancourt, has faced money-laundering investigations in Switzerland, Spain, and the US.
• Also buried the same night: a push to hand a slice of Yosemite land to a Nevada private developer.

Outlook: Expect fights over who pays the estimated $100 billion bill and little movement at the pump in the near term.