[ad_1]
US President Donald Trump said on Saturday (January 3) that removing Venezuelan President Nicolas Maduro from power would open the door to the country’s vast oil reserves, a move that could have a significant impact on the global energy landscape.
“We’re going to bring in our very big United States oil companies, the biggest in the world, spend billions of dollars, fix the badly broken infrastructure and start making money for the country,” Trump said during a news conference at Mar-a-Lago.
“They were pumping almost nothing compared to what they could have done.”
Venezuela has the world’s largest oil reserves
According to the Energy Institute, Venezuela’s oil reserves are equivalent to about 300 billion barrels, surpassing top OPEC producer Saudi Arabia. Trump emphasized the strategic value of these resources.
He said, “We built the Venezuelan oil industry with American talent, drive, skill, and the socialist regime took it away from us.”
“This is one of the largest thefts of American property in the history of our country.”
US military presence to secure oil operations
Trump indicated that the United States would maintain a military presence in Venezuela to protect oil operations after the overnight attacks in Caracas.
“We’re going to have a presence in Venezuela as it relates to oil, because we have to, we were sending our expertise there,” he said.
“So you might need something, just not too much.”
American oil companies will lead the investment
Trump outlined plans for US oil companies to invest heavily in modernizing Venezuela’s energy infrastructure.
He said, “We’re going to have our very big United States oil companies…come in, spend billions of dollars, fix the badly broken infrastructure and start making money for the country.”
Chevron currently operates under a limited license in Venezuela, but Trump suggested that would require broader participation from additional US companies.
Oil, sanctions and global impact
Trump confirmed that US sanctions on Venezuelan oil would remain “in full effect”. He also stressed plans to sell Venezuelan oil to international buyers, potentially hurting relations with major powers.
“We will sell large quantities of oil to other countries,” he said.
“We’re in the oil business. We’re going to sell it to them.”
[ad_2]
