By Gloria Ogbonna
President Donald Trump announced a sweeping new economic initiative aimed at revitalizing Venezuela’s long-neglected oil infrastructure, urging America’s largest energy companies to commit at least $100 billion in private investment to restore crude production in the South American nation.
The announcement came during a high-level roundtable with top oil executives at the White House, where Trump was joined by Vice President J.D. Vance, Secretary of State Marco Rubio, Energy Secretary Chris Wright, and Interior Secretary Doug Burgum in the East Room.
In his remarks, Trump made clear that the funds he envisions for Venezuela’s oil sector would come solely from private companies, not U.S. taxpayers. “Our giant oil companies will be spending at least $100 billion of their money, not the government’s money,” Trump said, emphasizing that while the firms do not need federal funding, they do need security and political guarantees that their investments will be protected and profitable.
“They don’t need government money,” he added, “but they need government protection and security … so they get their money back and make a very nice return.”
.@POTUS: "Our giant oil companies are spending at least $100B of their money, not the government's money… to rebuild the capacity and the infrastructure necessary." https://t.co/ljAEb2mOO0 pic.twitter.com/g0kC5FWHkO
— Rapid Response 47 (@RapidResponse47) January 9, 2026
At the heart of Trump’s pitch is the restoration of Venezuela’s vast but under-utilized oil capacity. Once a global energy powerhouse, Venezuela’s production has plummeted over the past decade due to chronic mismanagement, sanctions, and lack of investment.
Trump touted the potential economic benefits of rebuilding that infrastructure, asserting that the investment would help restore production capacity, create jobs, and generate significant revenue.
“Venezuela has also agreed that the United States will immediately begin refining and selling up to 50 million barrels of Venezuelan crude oil, which will continue indefinitely,” he noted.
Trump also sought to contrast his approach with that of previous administrations, claiming earlier leaders “did nothing about” Venezuela’s oil decline.
He argued that assets once developed with American technology and capital were “stolen” under past socialist regimes in Venezuela, leaving the country with an industry that produces far less than its potential. “So now we’re doing everything about it,” Trump said, underscoring his belief that aggressive action was overdue.
The plan includes expanding America’s role in refining Venezuelan crude, which Trump says will benefit U.S. energy security and markets.
He also noted that Venezuela has already transferred a large allotment of oil to the United States a move that underscores the strategic importance of the collaboration.
Representatives from a broad cross-section of the energy sector attended the roundtable, including Chevron, ExxonMobil, ConocoPhillips, Continental, Halliburton, Valero, Marathon, Shell, Trafigura, Vitol Americas, Repsol, Eni, Aspect Holdings, Tallgrass, Raisa Energy, and Hilcorp.
The White House indicated that discussions focused on both the scale of the investment needed and the legal and security frameworks that would support long-term private sector engagement in Venezuela’s oil fields.
While the announcement drew significant attention, major oil executives stopped short of making public commitments at the event. Some industry leaders have previously described Venezuela as “uninvestable” in its current legal and economic state and have called for reforms and clearer protections before deploying large amounts of capital.
Trump’s outreach to the oil sector comes amid broader geopolitical efforts by the United States to influence Venezuela’s future following the recent capture of longtime leader Nicolás Maduro in a U.S.-led operation.
The president and his advisers have portrayed expanded American involvement in Venezuela’s energy industry as both an economic opportunity and a strategic move to lower global oil prices and strengthen U.S. leverage in the Western Hemisphere.
Critics of the initiative have raised questions about the legal, financial, and ethical dimensions of the plan, including concerns about sovereignty, long-term viability, and the risks of investing in a country with a history of expropriating foreign oil assets.
Despite those concerns, Trump stressed that his administration would provide the assurances and protections necessary to make this ambitious vision possible.
As the discussions continue, all eyes will be on both the oil companies and the evolving political and legal frameworks that could shape the future of Venezuela’s energy sector and the role of American capital and influence in that transformation.
Source Breitbart
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