Trump Claims US Could Dominate Global Oil
Venezuela, which possesses the planet’s largest confirmed crude reserves, seized the holdings of US firms in the 2000s under the leadership of socialist Hugo Chavez.
Trump pointed to the “unfair” nationalization as one of the justifications for deploying commandos last week to capture Chavez’s successor, Venezuelan President Nicolas Maduro, from his residence in Caracas.
“We’re going to be working with Venezuela,” Trump stated on Friday during discussions with leaders of energy giants ExxonMobil, Chevron, and ConocoPhillips at the White House.
“American companies will have the opportunity to rebuild Venezuela’s energy infrastructure and eventually increase oil production to levels never seen before. When you add Venezuela and the United States together, we have 55% of the oil in the world,” he continued.
Following the meeting, Trump revealed that US corporations would commit at least $100 billion toward Venezuela’s petroleum development. However, Exxon’s CEO Darren Woods remarked that Venezuela was “uninvestable” unless regulations were revamped and its energy framework restructured.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
