President Donald Trump wants oil companies to invest at least $100 billion in Venezuela — but none of the executives summoned to a White House meeting on Friday would commit to concrete plans.
The hesitation of even the world’s largest oil corporations underscores the uncertainty that remains after the United States military captured Venezuelan leader Nicolás Maduro in a covert raid. Exxon Mobil CEO Darren Woods crystallized the skepticism early in Friday’s meeting when he described the current state of Venezuela as “uninvestable.”
That’s a stark contrast with the vision Trump has laid out, declaring that the U.S. government will control Venezuela’s oil industry for years to come.
“We’ll be able to go, and we’ll be open for business almost immediately,” Trump told the nearly two dozen executives in attendance Friday. “I have a feeling the $100 billion will be spent very rapidly by these very big and rich companies.”
