US May Subsidize Oil Giants To Rebuild Venezuela’s Energy Sector, Trump Says
President Donald Trump said the US may subsidize American oil companies to help rebuild Venezuela’s energy sector, arguing the plan would strengthen Venezuela’s recovery and protect US economic interests after the removal of Nicolás Maduro, according to Bloomberg.
In an interview with NBC News on Monday, Trump said US firms could have expanded operations in the country “up and running” in less than 18 months — a timeline that sharply conflicts with expert estimates that reconstruction could take a decade and cost more than $100 billion.
“I think we can do it in less time than that, but it’ll be a lot of money,” Trump said. “A tremendous amount of money will have to be spent and the oil companies will spend it, and then they’ll get reimbursed by us or through revenue.”
Trump declined to say whether he has spoken with executives from Exxon Mobil, Chevron or ConocoPhillips, adding only: “I speak to everybody.”
US Energy Secretary Chris Wright is expected to meet oil executives this week at the Goldman Sachs Energy, Clean Tech & Utilities Conference in Miami, where senior leaders from major firms will be in attendance.
Venezuela’s oil system has been crippled by corruption, fires, theft and years of underinvestment. Chevron remains the only oil supermajor still operating in the country, and most companies have been hesitant to commit to large-scale reinvestment.
Bloomberg writes that Trump said greater Venezuelan output would help ease global oil prices. “Having a Venezuela that’s an oil producer is good for the United States because it keeps the price of oil down,” he said.
The comments come amid criticism of Trump’s military operation that led to Maduro’s capture. Supporters say the move disrupted drug trafficking and reclaimed oil assets, while opponents argue the US risks violating international law and lacks approval for a long-term nation-building effort.
House Speaker Mike Johnson said the seizure of Venezuela’s oil exports gives Washington leverage over the political transition.
“Now we have a way of persuasion, because their oil exports, as you know, have been seized,” Johnson said, adding the pressure would produce “new governance in very short order.”
Maduro pleaded not guilty Monday in New York to drug and weapons charges, calling himself an “innocent” and “decent man.”
Trump said acting president Delcy Rodriguez has been cooperating with his administration and ruled out rapid elections, saying the country must be stabilized first.
Opposition leader and 2025 Nobel Peace Prize laureate María Corina Machado said she has not spoken with Trump since “Oct. 10, the same day the prize was announced, not since then.”
Tyler Durden
Tue, 01/06/2026 – 18:50