Big Oil’s Complicated Calculus for Investing in Venezuela
The New York Times • • nation
Key Points:
- President Trump expressed reluctance to involve Exxon Mobil in Venezuela, criticizing the company's CEO for calling the country "uninvestable" and indicating dissatisfaction with their response.
- Trump has promised $100 billion in investments from U.S. oil companies in Venezuela following the potential ouster of President Nicolás Maduro, highlighting a push for increased involvement in the region.
- There is a fundamental conflict between Trump's desire for low oil prices and heavy investment in Venezuela, and oil industry leaders' focus on higher prices, risk reduction, and shareholder returns.
- Oil executives, including leaders from Occidental Petroleum and Chevron, have emphasized cautious investment strategies and avoiding oversupply, signaling resistance to aggressive expansion despite political pressure.
- The impasse between the White House and
