Trump Admits U.S. Taxpayers Are on the Hook for His Venezuelan Oil Plan
The Daily Beast••business
Key Points:
- Donald Trump acknowledged that American taxpayers might fund the significant investment needed to upgrade Venezuela's oil production following the removal of Nicolás Maduro by U.S. special forces.
- Trump plans to transfer control of Venezuela's vast oil reserves to American oil companies, estimating that U.S. oil industry operations could expand there within 18 months, though the cost remains unspecified.
- Venezuela holds about one-fifth of the world's oil reserves, but its outdated infrastructure limits production to less than 1% of the global total, with extraction challenges due to dense crude oil.
- Trump stated that oil companies were aware of the possibility of U.S. intervention but were not briefed on the actual raid beforehand, and he suggested that reviving Venezuela's oil production would help lower
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