Energy Secretary Chris Wright said Thursday that the Trump administration has no plans to offer security guarantees to oil companies in Venezuela, even as he expressed optimism about the prospect of industry investment in the country.
Controlling the “flow of funds” in Venezuela gives the United States “huge leverage” to cut crime and reestablish “peace and better business conditions” in the near term, said Wright, speaking to Bloomberg TV on the sidelines of the World Economic Forum in Davos, Switzerland.
“The activity we’re doing is moving the security situation in a positive direction,” he said.
Oil and natural gas companies are used to operating globally in “all different settings,” Wright said, adding that the U.S. won’t get involved in providing on-the ground security. Wright’s comments come after President Donald Trump told oil and gas executives at a meeting earlier this month that their firms will have “total security” if they reenter Venezuela.
