U.S. President Donald Trump has signaled a dramatic shift in Washington’s approach to Venezuela, suggesting that major American oil companies could return to the South American nation and invest heavily in its long-crippled energy sector.
“We are going to have our large U.S. oil companies go into Venezuela, spend billions to fix the broken infrastructure and start making money for the country,” Trump said, outlining a vision that would mark a sharp departure from years of sanctions and diplomatic isolation.
Venezuela, home to the world’s largest proven oil reserves, has seen its production collapse over the past decade due to mismanagement, underinvestment, and international sanctions.
Much of its once-vast oil infrastructure is in disrepair, leaving output far below historic levels and contributing to a prolonged economic crisis.
Trump’s remarks suggest a strategy centered on private-sector investment rather than state-led recovery, with U.S. energy companies playing a central role in restoring production and generating revenue.
Supporters argue such a move could revive Venezuela’s economy while boosting global oil supply, potentially easing energy prices.
Critics, however, note that any large-scale U.S. investment would face significant political, legal, and ethical hurdles, including sanctions policy, human rights concerns, and questions over how revenues would be managed by the Venezuelan government.
By Sampson Kumah Ifeetwube Elvis
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