Trump’s Venezuela Oil Push Hits Reality

By Staff, Agencies

US President Donald Trump’s ambition to tap Venezuela’s vast oil reserves in pursuit of “energy dominance” is facing serious practical obstacles, highlighting the gap between political rhetoric and on-the-ground realities.

Despite holding the world’s largest proven oil reserves, Venezuela currently produces only about 1% of global supply, largely due to years of sanctions, underinvestment, and mismanagement.

While Trump has claimed US companies would invest billions to restore infrastructure and boost output, analysts warn that such efforts would take years, and major American oil firms remain hesitant.

At a recent White House meeting with energy executives, Exxon Mobil’s chief executive described Venezuela as “uninvestable” and declined to commit to major spending.

Trump later criticized the company’s stance, suggesting it was being overly cautious and hinting at possible exclusion from future plans.

Analysts also point to structural limits, including the absence of a US national oil company capable of directly executing state-led energy strategies, unlike in Russia or Saudi Arabia.

Others question the strategic value of pursuing “energy dominance” in an already well-supplied global oil market.

Geopolitical risks further complicate the picture. Observers warn that expanded US influence over Venezuelan energy could reshape global oil leverage and intensify competition with major powers, particularly Russia and China, adding another layer of uncertainty to Trump’s strategy.