Trump Sees 'Massive Wealth' from Venezuela's Oil as Companies Meet at White House
Trump Sees 'Massive Wealth' from Venezuela's Oil as Companies Meet at White House
The White House hosted a meeting on Friday, January 9, 2026, with US oil companies, including Chevron and Exxon, to discuss investing in Venezuela's oil industry. President Donald Trump expressed optimism about the potential for 'massive wealth' from Venezuela's oil, citing the country's vast oil reserves.
According to a report by CNBC [6], Trump stated that he believes big oil will invest $100 billion in Venezuela. However, experts have expressed doubts about how soon this investment could flow, given the country's unstable government and security situation.
The meeting comes as the Trump administration has been seeking to increase US involvement in Venezuela's oil industry. In a statement, Trump said, 'We're going to make Venezuela great again, and we're going to make America great again.'
Background on Venezuela's Oil Industry
Venezuela has the largest oil reserves in the world, with an estimated 302 billion barrels of crude oil. However, the country's oil industry has been struggling due to a lack of investment and maintenance. The government has been seeking to attract foreign investment to revive the industry.
Reaction from Experts
Experts have expressed skepticism about the potential for US oil companies to invest in Venezuela's oil industry. 'It's a high-risk, high-reward situation,' said one expert. 'The security situation in Venezuela is unstable, and the government is not stable either.'
Conclusion
The meeting at the White House marks a significant development in the Trump administration's efforts to increase US involvement in Venezuela's oil industry. While President Trump expressed optimism about the potential for 'massive wealth' from Venezuela's oil, experts have expressed doubts about how soon this investment could flow.
Sources
[1] New video of Minneapolis ICE shooting incident revealed by Alpha News
[2] Trump says oil companies will spend $100 billion in Venezuela with U.S. protection
[3] Oracle and Amazon are AI ‘loser’ stocks — but here’s why that’s primed to change
[4] Intel stock jumps 10% after CEO meets with Trump as U.S. stake doubles value
[5] Trump urges US oil giants to repair Venezuela’s ’rotting’ energy industry
[6] Trump sees ‘massive wealth’ from Venezuela’s oil as companies meet at White House. Experts doubt how soon it could flow.
[7] Exxon CEO says prepared to evaluate reentering Venezuela
[8] Washington pipe bomb suspect pleads not guilty
[9] Some US jobs data was posted early on Trump’s Truth Social account
[10] Vulcan Materials stock hits all-time high at 311.74 USD