Trump has said he will unleash the South American nation's oil after US forces seized its leader Nicolas Maduro in a 3 January raid on its capital.Trump’s word and $5 will buy you a cup of coffee at Starbucks.
"One of the things the United States gets out of this will be even lower energy prices," Trump said in Friday's meeting at the White House.
But the oil bosses present expressed caution.
Exxon's chief executive Darren Woods said: "We have had our assets seized there twice and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen and what is currently the state."
"Today it's uninvestable."
Venezuela has had a complicated relationship with international oil firms since oil was discovered in its territory more than 100 years ago.
Chevron is the last remaining major American oil firm still operating in the country.
A handful of companies from other countries, including Spain's Repsol and Italy's Eni, both of which were represented at the White House meeting, are also active.
Trump said his administration would decide which firms would be allowed to operate.
"You're dealing with us directly. You're not dealing with Venezuela at all. We don't want you to deal with Venezuela," he said.
Oil prices are set by the global market, not by the piddling amount coming out of Venezuela. (Permian Basin production is at least 20 times the production of VZ, and it’s higher value product.)
Trump is not the God Emperor of Venezuela. Trump is a fucking idiot.
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