Trump to U.S. Oil Companies: Return to Venezuela!

Watch Trump to U.S. Oil Companies: Return to Venezuela! - New York Post on Dailymotion

Transcript

00:00President Trump has offered more insight into how the U.S. might benefit from Venezuela's vast oil

00:05resources. For starters, he posted on Truth Social Tuesday night, I am pleased to announce that the

00:10interim authorities in Venezuela will be turning over between 30 and 50 million barrels of high

00:16quality sanctioned oil to the United States of America. This oil will be sold at its market price

00:21and that money will be controlled by me as president of the United States of America to

00:26ensure it is used to benefit the people of Venezuela and the United States. And earlier

00:31Tuesday, he suggested the U.S. government could reimburse American oil companies if they invest

00:37in rebuilding the country's oil industry and infrastructure. Trump telling NBC News that he

00:43believes U.S. companies could increase oil production in 18 months, though he admitted it wouldn't be

00:49cheap. The president stopped short of offering any estimates for just how much it could cost U.S.

00:54companies and possibly the U.S. government. Of the three largest U.S. producers, ExxonMobil,

01:00Chevron and ConocoPhillips, only Chevron currently operates in Venezuela. Now, Chevron has reportedly

01:06already called employees back to the South American country to start the process of resuming normal

01:11operations. Exxon didn't respond to requests for comments and ConocoPhillips says that it's watching

01:17the developments but didn't offer any details about whether or not it would operate in Venezuela in the

01:22future. Incidentally, the stocks of all three companies are up this week after the news that Maduro was

01:28removed from power.