President Trump has signaled that U.S. oil companies can breathe a sigh of relief as he assured them they will be shielded from Venezuela's tumultuous environment if they decide to invest in the country after the ouster of President Nicolás Maduro.
The U.S. leader made the statement during a meeting with oil executives at the White House, promising "total safety" for those who invest in Venezuela. He noted that these companies would not be dealing directly with the Venezuelan government but rather would have direct dealings with the Trump administration to avoid any risks associated with investing in the country.
Trump highlighted that big U.S. oil companies will spend over $100 billion of their own money on investments, not necessarily through the government's coffers, and will require "government protection" to ensure that they do so. The Trump administration plans to take control of the exporting, refining, and production of Venezuelan petroleum as a way to keep gasoline prices low.
The development comes after U.S. forces seized another tanker carrying Venezuelan oil, which Trump believes could lead to lower gas prices in the coming months. Trump has been touting his ability to manage energy costs as part of his re-election bid.
The meeting at the White House brought together executives from 17 companies, including Chevron and ExxonMobil, which have had oil projects in Venezuela that were nationalized by former President Hugo Chávez's government. However, some oil industry officials remain skeptical about investing in the country due to its unstable economic situation.
According to Darren Woods, CEO of ExxonMobil, it is currently "uninvestable" in Venezuela, citing commercial frameworks, the legal system, durable investment protections, and changes needed to hydrocarbon laws in the country.
The U.S. leader made the statement during a meeting with oil executives at the White House, promising "total safety" for those who invest in Venezuela. He noted that these companies would not be dealing directly with the Venezuelan government but rather would have direct dealings with the Trump administration to avoid any risks associated with investing in the country.
Trump highlighted that big U.S. oil companies will spend over $100 billion of their own money on investments, not necessarily through the government's coffers, and will require "government protection" to ensure that they do so. The Trump administration plans to take control of the exporting, refining, and production of Venezuelan petroleum as a way to keep gasoline prices low.
The development comes after U.S. forces seized another tanker carrying Venezuelan oil, which Trump believes could lead to lower gas prices in the coming months. Trump has been touting his ability to manage energy costs as part of his re-election bid.
The meeting at the White House brought together executives from 17 companies, including Chevron and ExxonMobil, which have had oil projects in Venezuela that were nationalized by former President Hugo Chávez's government. However, some oil industry officials remain skeptical about investing in the country due to its unstable economic situation.
According to Darren Woods, CEO of ExxonMobil, it is currently "uninvestable" in Venezuela, citing commercial frameworks, the legal system, durable investment protections, and changes needed to hydrocarbon laws in the country.
Trump thinks he can just wave his magic wand and make US oil companies go crazy for investing in Venezuela? Come on! The dude has no idea what's going on with the economy there. They're talking about $100 billion investment, but have they even thought about the logistics of actually getting the stuff out of that country? Not to mention the fact that the oil executives at the meeting are still skeptical as hell 
It's like Trump is trying to make a deal with the devil himself. And what's with the government "protection" angle? Sounds like just another way for him to line his own pockets 
oh man, Trump just gave those oil companies a huge green light to invest in Venezuela! Like, I get why some folks would be hesitant due to the whole situation being super sketchy 
but come on, $100 billion is a WHOLE LOTTA DOLLARS 
and who doesn't love low gas prices?! 
. And let's be real, it's not like we're gonna see any major issues with ExxonMobil and Chevron just throwing in the towel 
.
? But Trump seems to think this is a total go, so I trust him on this one 
.
. And Trump's plan to take control of the exports and refining? Sounds like a recipe for disaster 
. I'm not surprised ExxonMobil is skeptical about investing in Venezuela – it's a whole different ball game compared to their usual oil fields in Saudi Arabia or Angola 
. Maybe they should just stick to extracting oil from the depths of the ocean instead 
.
and I'm still thinking about that crazy trail map they had at the park. I mean, have you ever seen a map with so many little symbols and colors? It was like trying to decipher a secret code 
. Anyway, it made me think about how much we rely on infrastructure in our daily lives – roads, maps, GPS... even coffee machines can't function without a decent power source 
️. I wonder if the US oil companies will actually invest in Venezuela now that Trump is making promises of "total safety". I guess only time (and a steady supply of gas) will tell 
. plus, what's to stop the venezuelan government from being all "screw you america" if they don't like trump's admin? 
Can we get an update on those tanker seizures tho? Is it true that'll bring down gas prices? 
️ I'm all about the benjamins but let's make sure our investments are sound 
Just heard about this. Big oil companies getting ready to pump money into Venezuela 
... like we haven't seen that before in 2024... 
. Not exactly the kind of transparency or stability you'd expect from the Trump administration 
.
. And what's with Trump's promise of "total safety"? Like, that's not a thing you can guarantee, right? 
.
. Can we find a middle ground here? Maybe invest in sustainable energy projects or something? 
. what do u guys think? 
So they're saying that if US oil companies invest in Venezuela, Trump will protect them from any risks? That's a pretty big ask considering how unstable the country is right now...