Trump's Venezuelan oil rush is doomed from the start
Salon.com••general
Key Points:
- President Trump predicted a rapid rush by U.S. oil companies to exploit Venezuelan oil following the abduction of President Nicolás Maduro, claiming they could build infrastructure within 15 months and generate significant profits.
- Industry leaders and economists remain skeptical, citing Venezuela's degraded oil infrastructure, political instability, and current global oil market conditions that discourage major expansion.
- Major U.S. oil companies like ConocoPhillips, ExxonMobil, and Chevron have declined to comment on any plans to invest in Venezuelan oil, with experts noting that political pressure, rather than economic incentives, might be the only driver for such moves.
- Trump has offered potential government reimbursements exceeding $100 billion to incentivize oil companies, but analysts warn that oversupply
