Trump claims US oil firms could be 'up and running' in Venezuela within 18 months
Yahoo News Canada••business
Key Points:
- President Donald Trump stated that US oil companies could resume significant operations in Venezuela within 18 months following a military operation that removed Nicolás Maduro from power, though he acknowledged substantial investment would be required.
- Trump emphasized the benefits for the US in revitalizing Venezuela's oil production, citing its potential to lower oil prices, but analysts remain skeptical about the short-term impact on global oil supply and prices due to the scale of investment and time needed.
- Venezuela holds the world's largest proven oil reserves, but production has declined since the early 2000s, and only Chevron currently operates there among major US firms; other companies like ConocoPhillips and Exxon are monitoring the situation but have not committed to new investments.
- US claims that Venezuela "stole
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