Former US President Donald Trump has asked big American oil companies to invest $100 billion in Venezuela’s oil sector. He believes this investment can increase oil production and help control fuel prices in the United States.
Venezuela has some of the largest oil reserves in the world, but its oil industry is in very bad condition. Trump says that if US companies invest there, it will benefit both countries. He also promised oil companies that they would get full safety and support if they agree to invest.
However, not everyone agrees with Trump’s idea.
The CEO of ExxonMobil, one of the world’s biggest oil companies, said that Venezuela is currently “uninvestable.” This means Exxon feels the country is too risky for business. According to the company, Venezuela has unstable laws, political problems, and a history of taking control of foreign companies’ assets. Because of this, Exxon does not want to invest billions of dollars there right now.
Other oil companies are also being careful. Some have shown interest, but they want clear rules, legal protection, and stable conditions before making any big investment. US sanctions on Venezuela also make things more complicated.
This situation shows a big difference in opinion. Trump is pushing hard to restart Venezuela’s oil industry with US money, but oil companies are focused on risk and long-term safety. Unless Venezuela improves its political and legal system, many experts believe it will be very difficult to attract such a large investment.
