WASHINGTON — In a strategic pivot following the military operation that ousted Nicolás Maduro, President Donald Trump convened top oil industry executives at the White House to champion a massive $100 billion private investment initiative aimed at revitalizing Venezuela’s crippled energy infrastructure. The Friday meeting marked a dramatic shift from military action to economic opportunity, with Trump positioning Venezuela’s vast petroleum reserves as a prime target for American energy corporations.
The administration’s aggressive posture includes seizing tankers carrying Venezuelan crude and assuming control over global sales of 30-50 million barrels of previously sanctioned oil. Trump personally assured skeptical executives of “total safety” in potential ventures, emphasizing they would be “dealing with us directly and not dealing with Venezuela at all.” This unprecedented arrangement would see the U.S. government acting as intermediary for energy investments in a foreign nation.
Despite presidential assurances, industry leaders expressed significant reservations. ExxonMobil CEO Darren Woods characterized Venezuela as “un-investable” under current frameworks, citing the need for comprehensive legal overhauls and durable investment protections. The company’s assets were seized twice previously in the country, reflecting the challenging operational environment.
The mobilization forms part of Trump’s broader effort to curb gasoline prices, merging assertive presidential power with economic spectacle ahead of election season. Beyond domestic considerations, the president presented the intervention as preempting Chinese or Russian control of Venezuelan resources, stating: “If we didn’t do this, China or Russia would have done it.”
In parallel diplomatic developments, both nations are exploring restored relations, with U.S. officials conducting preliminary assessments for reopening the Caracas embassy. The administration also announced upcoming meetings with Venezuelan opposition leader Maria Corina Machado and Colombian President Gustavo Petro, signaling complex regional realignments following Maduro’s ouster.
Energy Secretary Chris Wright projected optimism post-meeting, noting “tremendous interest” from attendees and suggesting production could triple to 3 million barrels daily within 8-12 years. The assemblage included Chevron, ConocoPhillips, Shell, and international firms Trafigura, Eni, and Repsol, representing global stakes in Venezuela’s energy future.