US President Donald Trump has assured oil executives that investing in Venezuela comes with "total safety" as the White House seeks to quickly secure $100bn in investments to revive the country's vast petroleum reserves. Trump made the statement during a meeting with oil industry executives, where he emphasized that companies will not be dealing directly with Venezuela but rather through the US government.
According to Trump, giant oil companies will spend at least $100bn of their own money, as they don't need government money, but require government protection. He also claimed that his administration has a stable relationship with Venezuela's interim President Delcy Rodriguez and is willing to provide backstops for any investments made by private companies.
However, experts are skeptical about the prospects of re-engaging in Venezuela due to ongoing US sanctions, political uncertainty, and a history of state asset seizures. Darren Woods, CEO of ExxonMobil, described the current commercial framework as "un-investable" and called for significant changes to be made to ensure durable investment protections.
The meeting with oil executives comes as the White House seeks to capitalize on Venezuela's vast petroleum reserves, which have slumped below one million barrels per day. Trump has vowed to convince oil companies that his administration can provide stability and protection in the sector, although many are waiting for terms from the Venezuelans and clarity on US commitments.
Critics of the gathering argue that Trump's goal appears to be to hand billionaires control over Venezuela's oil, while others have expressed concerns about the potential instability and economic crisis that could deepen if funds do not reach Venezuela for basic goods.
According to Trump, giant oil companies will spend at least $100bn of their own money, as they don't need government money, but require government protection. He also claimed that his administration has a stable relationship with Venezuela's interim President Delcy Rodriguez and is willing to provide backstops for any investments made by private companies.
However, experts are skeptical about the prospects of re-engaging in Venezuela due to ongoing US sanctions, political uncertainty, and a history of state asset seizures. Darren Woods, CEO of ExxonMobil, described the current commercial framework as "un-investable" and called for significant changes to be made to ensure durable investment protections.
The meeting with oil executives comes as the White House seeks to capitalize on Venezuela's vast petroleum reserves, which have slumped below one million barrels per day. Trump has vowed to convince oil companies that his administration can provide stability and protection in the sector, although many are waiting for terms from the Venezuelans and clarity on US commitments.
Critics of the gathering argue that Trump's goal appears to be to hand billionaires control over Venezuela's oil, while others have expressed concerns about the potential instability and economic crisis that could deepen if funds do not reach Venezuela for basic goods.
Also, isn't it weird that the US government is supposed to provide protection instead of letting companies take on more risk? 
It sounds like the White House wants to keep control over the oil industry. What if they're not willing to share profits with the Venezuelan people? 
Also, have you seen those prices for oil lately? It's crazy high! 
. And have you seen the state of the country right now? It's like a mess, and Trump thinks he can just wave his magic wand and make it all better? 
Please. We need concrete plans and not just empty promises from the White House 
. Can't believe they're pushing to get $100bn without even having a clear plan 
. What's next? Selling out to Russian oligarchs or Chinese corporations? 
and I'm still thinking about this crazy decision by Trump to invest in Venezuela 
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. I'm sure it'll all work out in the end, but I've got my doubts 
. What's next, investing in North Korea too? 
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. What's next, handing over the keys to the kids' college funds? 
. And what's with this "government protection" thing? Sounds like a fancy way of saying "we'll let you play with fire, but we won't light the match ourselves 
... Investing in Venezuela is a huge risk, considering everything that's going on there. The US sanctions are still in place, and it's hard to trust anyone when the government is being super vague about what they're looking for. $100bn is a lot of money, but I think it's gonna end up being a total waste 
. These oil companies are just getting sucked into something that could spiral outta control. We need some solid answers from both sides before we start pouring our money in 
. But at the same time, experts are saying it's super unlikely that anything will actually happen because of the US sanctions and all... I guess we'll just have to wait and see how this plays out 
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. And on a more serious note, I do worry about what could happen if the oil companies don't get their investments sorted out - it could be a real mess 
. Maybe we'll all be surprised and it works out in the end! 
. And they're just gonna hand it over to Trump's friends at Venezuela and let them sort it out? Come on 
. And what if the Venezuelans just wanna keep their oil for themselves? It seems like a recipe for disaster 
? 
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. How are we even supposed to trust that Trump is being serious about stability and protection when he's basically just trying to squeeze more money out of oil companies? 
. Where are the experts who actually care about Venezuela's future? 
i mean, $100bn is a lot of money, but if its not going towards improving living conditions or infrastructure in venezuela, does it even matter? 
. The fact that companies won't be dealing directly with Venezuela but rather through the US government sounds sketchy 
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Can't we just focus on solving some real problems instead of trying to make a quick buck off of someone else's misfortune?