Trump Threatens to Sideline Exxon From Venezuela Oil Gamble

President Donald Trump is threatening to marginalize ExxonMobil from its impulse to reopen Venezuela’s vast oil sector to US investment, increasing tensions with the country’s largest oil company about the risks of returning to Caracas.Aboard the Air Force One on Sunday, Trump said he is “inclined to keep Exxon out” of his administration’s plan to channel at least $100 billion from US oil companies to rebuild Venezuela’s oil industry.• Trump said he “didn’t like” Exxon’s response at a White House meeting with almost two dozen oil executives, accusing the company of “playing too cute” after his CEO publicly questioned the viability of investing in Venezuela.• ExxonMobil CEO Darren Woods told Trump at that meeting that, under current conditions, Venezuela is “non-investable,” citing weak legal protections, unfavorable trade terms and the need to review the country’s hydrocarbon laws.• Woods reminded officials that Venezuela has seized Exxon’s assets twice, including during the nationalizations of Hugo Chávez in 2007, and warned that re-entering the country for the third time would require “significant changes” in governance and the investment framework.• Trump’s team is launching a massive and privately funded reconstruction of Venezuela’s oil infrastructure, at least 100 billion dollars for approximately a decade, with Washington promising “total security, total security” for the participating companies, although the specific protection mechanisms remain vague.• Venezuela has the world’s largest proven crude reserves, but it produces only about 1 million barrels per day, well below all-time highs, meaning any serious rebound would require years of investment, complex security guarantees and lasting policy stabilization.• Some rivals are more receptive: Chevron, which already operates in Venezuela with US licenses, has indicated that it could increase production by approximately 50% in two years if conditions allow it, while other companies have expressed interest without making firm financial commitments.• Trump’s threat to exclude Exxon increases bets for companies that weigh reputation benefits in Washington against fears of expropriation, contractual instability and a still uncere political transition in Caracas.Thanks for reading Totally Exposed! Subscribe for free to receive new posts and support my work.Thanks for reading Totally Exposed! This post is public so feel free to share it. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit totallyexposedbynavarro.substack.com