Trump says U.S. may reimburse oil companies if they rebuild Venezuela's infrastructure
NBC News••general
Key Points:
- Former President Donald Trump expressed confidence that the U.S. oil industry could restore and expand operations in Venezuela within 18 months, emphasizing significant investment from oil companies with potential reimbursement from the U.S. government or future revenue.
- Despite Trump's optimism, major oil companies remain cautious due to Venezuela's history of nationalizing assets, ongoing U.S. sanctions, and political instability, with Chevron being the only major company currently operating there under a sanctions waiver.
- Trump suggested that increased Venezuelan oil production would help lower global oil prices and benefit U.S. consumers, noting gas prices are already at multiyear lows.
- The Trump administration is engaging with oil executives, with Energy Secretary Chris Wright scheduled to meet with leaders from Exxon and ConocoPhillips
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