{"id":65,"date":"2026-05-27T06:11:48","date_gmt":"2026-05-27T06:11:48","guid":{"rendered":"https:\/\/longdistancemoversusas.com\/?p=65"},"modified":"2026-05-27T06:11:48","modified_gmt":"2026-05-27T06:11:48","slug":"trumps-100-billion-venezuela-pitch-meets-oil-industry-skepticism","status":"publish","type":"post","link":"https:\/\/longdistancemoversusas.com\/?p=65","title":{"rendered":"Trump\u2019s $100 billion Venezuela pitch meets oil industry skepticism"},"content":{"rendered":"
\n

President Donald Trump on Friday urged nearly 20 American oil executives to invest a combined $100 billion in rebuilding Venezuela\u2019s decrepit energy infrastructure, presenting the plan as a way to drive down global oil prices and ease costs for American consumers.<\/p>\n

Read more Trump\u2019s autocratic moves begin to backfire<\/a><\/p>\n

But oil industry leaders have expressed deep skepticism about pouring substantial capital into Venezuela, where profitability and government stability remain deeply uncertain. Several energy giants have lost billions of dollars in previous Venezuelan ventures, and executives in attendance on Friday said they would need to see \u201csignificant\u201d changes in the country before they could invest.\u00a0<\/p>\n

\u201cYou can imagine to re-enter [Venezuela] a third time would require some pretty significant changes from what we\u2019ve historically seen here and what is currently the state,\u201d Exxon Mobil CEO Darren Woods said at the White House meeting. \u201cVenezuela today, it\u2019s uninvestible, and so significant changes have to be made to those commercial frameworks, the legal system.\u201d\u00a0<\/p>\n

Asked what backstops would be implemented to prevent oil companies from losing billions if Venezuela becomes unstable, Trump said that the companies \u201cknow the risks.\u201d\u00a0<\/p>\n

Trump\u2019s proposal envisions top executives from Chevron, Exxon Mobil, Shell and other major oil companies dramatically boosting Venezuelan oil production to reduce global prices to around $50 per barrel.<\/p>\n

\u201cThe plan is for them<\/em> to spend \u2014 meaning our giant oil companies will be spending at least $100 billion of their money, not the government\u2019s money,\u201d Trump said in the East Room on Friday. \u201cThey don\u2019t need government money, but they need government protection and need government security.\u201d\u00a0<\/p>\n

Read more DOJ\u2019s misconduct complaint dismissed against judge in Alien Enemies Act case<\/a><\/p>\n

Trump attempted to assuage industry concerns by promising them \u201ctotal safety\u201d and \u201ctotal security\u201d if they agreed to drill in Venezuela, and said companies would \u201cmostly be using Venezuelan workers\u201d on the ground.\u00a0But those promises lacked specifics about how such guarantees would be enforced.<\/p>\n

Trump\u2019s vision includes routing revenue from the sale of Venezuelan oil sales into accounts controlled by the U.S. government. In a New York Times interview on Wednesday, Trump said the United States could quickly generate vast oil revenues in Venezuela and would maintain control over that nation\u2019s government for \u201cmuch longer\u201d than a year.<\/p>\n

Earlier this week, the White House announced an agreement with Caracas that will require Venezuela to export up to 50 million barrels of oil to the United States. Revenue from the oil, Trump said, will be \u201cused to benefit the people of Venezuela and the United States.\u201d\u00a0<\/p>\n

The United Nations, along with other international allies, have criticized Trump\u2019s stated goals as interference in the affairs of a sovereign nation. U.S. officials and election experts have long accused ousted Venezuelan President Nicol\u00e1s Maduro of election fraud and classified his government as illegitimate.<\/p>\n

At the Friday meeting, Trump also spoke openly about acquiring other countries\u2019 territory, warning that if the U.S. doesn\u2019t \u201ctake Greenland\u201d \u2014 a self-governing territory of Denmark, a NATO member and U.S. ally \u2014 then China or Russia would move in. He suggested it could be acquired \u201cthe easy way or the hard way.\u201d A takeover of Greenland could threaten the existence of the North Atlantic Treaty Organization, which has undergirded the post-World War II security of the Western world.<\/p>\n

Read more A whistleblower complaint about Tulsi Gabbard has been kept from Congress for months<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In a White House meeting, President Trump promised \u201ctotal security\u201d to energy giants wary of major investments in a country where they’ve lost billions.<\/p>\n","protected":false},"author":1,"featured_media":64,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-65","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us"],"yoast_head":"\nTrump\u2019s $100 billion Venezuela pitch meets oil industry skepticism - Long Distance Movers USA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/longdistancemoversusas.com\/?p=65\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s $100 billion Venezuela pitch meets oil industry skepticism - 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