Posted on 01/13/2026 8:39:16 AM PST by Miami Rebel
President Trump told reporters Sunday night that he was “inclined” to deny ExxonMobil any role in rebuilding Venezuela’s moribund oil industry after its CEO told him point-blank Friday that the South American country was “uninvestable” despite the recent capture of President Nicolas Maduro.
“I didn’t like Exxon’s response,” Trump said to reporters on Air Force One as he departed West Palm Beach, Florida. “They’re playing too cute.”
ExxonMobil CEO Darren Woods made the blunt assessment during a White House meeting of petroleum executives whom Trump was trying to persuade to restart production in Venezuela after more than 25 years of left-wing authoritarian rule.
“If we look at the commercial constructs and frameworks in place today in Venezuela, today it’s uninvestable,” said Woods, who has led the world’s largest oil company since January 2017.
(Excerpt) Read more at nypost.com ...
How stable is the political environment in the US? What happens in Venezuela if the Democrats win?
Especially with the opposition Party going full Communist!
Especially going into the Mid-Term election of a Lame Duck.
What oil company gets burned TWICE and is willing to invest hundreds of millions of $$$ in today's money on the hope you'll not get burned a THIRD time?
“Why didn’t Trump send cabinet member(s) to get input from Oil execs for their opinion on their company ‘investing in Venezuela’ before the President had a public and televised meeting with the CEOs?”
Because as I am beginning to see, he thinks a reality show will always carry the day. He thinks extravaganzas carry the day and make things happen.
Look at DOGE, he loved it as a show, then iced out Elon when he was getting too popular.
Look at the “influencers” walking out of the White House with binders of the Epstein Files”.
Look at his embarrassing military parade in DC... In his mind that parade makes him look great.
Look at how he keeps pimping the ballroom.
And his constant tweeting to Bondi that she should do something, when he could call her into his office and give her direct orders.
Look at his meeting in Alaska with Putin with jet fighters and a B2 bomber streaking overhead.
He thinks a big reality show is a substitute for the nuts and bolts and heavy lifting.
So in his mind, I gather all the oil execs together and they all agree on TV to what I want. Any who don’t agree are traitors.
You don't have to.
I’m heavy in energy too, biggest holding is ET for over 7 years. I also own mineral rights from Texas land I sold years ago while keeping the rights. Gas wells. The best was when we (I have partners) negotiated $200k from the driller for the ROW to move oil across our property. And we made them go around the edges the long way so we wouldn’t have an unbuildable 50ft strip across the property. The land has since been sold, kept the rights and they’ve have been paying for about 16 years, still producing well, they’ve re-frac’d the best one. My first job was staking wells for George Mitchell in Texas. Great man.
Signing up to reinvest for another round is dumb.
Until people know what the government will be in Venezuela, this is how people will look at it.
Given Venezuela will be turned over to the same people Trump rescued it from. Should a democrat get back into the White House. I wouldn’t invest a dollar in it either.
Chevron has had a special exemption export heavy crude to our refiners.
Overall, it’s output is miniscule....240,000 bbl. per day...but that should ramp up to double or triple that in a year.
Beyond that, Chevron will face the same obstacles as its competitors: much of the infrastructure is beyond repair and will require replacement. Any company committing to that would require an immense capital outlay.
As long as Trump or his successor is in office the deals will hold. If Democrats ever get power again all investment will be lost. Anything with an ROI of longer than 3 years is risky if you ask me.
I’m not so sure he is really all that good at the art of the deal. Generally it’s a demand followed by threats of some sort. “Agree to this, or we will bomb you or overthrow you”.
That has been the case in Iran, Gaza, Russia/Ukraine, Venezuela, Greenland by any means, with a deal or by force etc.
I haven’t seen any deal making skills on display with Congress that did absolutely nothing this year, and shows no signs of doing anything yet.
His deal making is basically mafia style, “nice business you have here, it’d be a shame if something happened to it”.
But it’s rare you see any meeting of the minds and any true deal. He can’t even make a deal with the leadership and donors of his own party.
Correctly stated.
Trump is off base with this.
Lots of potential.
I’ve never had first-hand experience, but I did strike up an acquaintance with one of the towering greats of the midstream business, Dan Duncan. His Enterprise Products (EPD) is one of my biggest positions, going back to its IPO in ‘98. I have a far smaller position in ET.
My latest buy has been a tiny royalty trust out of northern Germany, North European Oil Royalty Trust (NET.) It’s actually natural gas-heavy and the rigs are operated by Mobil.
“And he thinks he is always right.Therefore, he will be surrounded by yes men”
Many people who have never spoken to Trump share your sentiments.
Those who have actually met with Trump often comment on what an intense listener he is and are floored by the thoughtful questions he asks.
Perception vs. reality.
I agree.
“As long as Trump or his successor is in office the deals will hold. If Democrats ever get power again all investment will be lost. Anything with an ROI of longer than 3 years is risky if you ask me.”
That is why the only long lasting “deals” the U.S. can and should make are treaties, NOT mere Presidential deals or Presidential agreements.
If we want a long lasting different situation with Venezuela we need a treaty that is ratified by the U.S. Senate and ratified by a truly democratic government in Venezuela. Anything else “secures” nothing.
Our local Exxon station is always the highest price in town. Must be a reason.
Nice, I should have kept my EPD, selling it was a mistake.
Introduced in Senate (02/27/2025)
119th CONGRESS
1st Session
S. 799
To establish and implement a multi-year Legal Gold and Mining Partnership Strategy to reduce the negative environmental and social impacts of illicit gold mining in the Western Hemisphere, and for other purposes.
IN THE SENATE OF THE UNITED STATES
February 27, 2025
Mr. Cornyn (for himself and Mr. Kaine) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations
...
(B) about 80 percent of the gold mined in Venezuela is mined through illicit means...
With this bill, even though it hasn't passed or even been debated, our govt has officially acknowledged the importance of VZ's gold and mineral reserves, which are substantial - potentially in at least the tens of trillions.
Smart investors should explore the mining sector, because the U.S. presence will allow mining companies to quickly build infrastructure and begin extracting VZ's gold and precious minerals, which is probably why they're there in the first place.
The "drug boat" problem was a smokescreen. It was necessary to keep the seas around VZ clear so that the large ships transporting mining equipment, which is huge, would be done off the radar - and under cover of the U.S. military.
Elon Musk owns the Boring Company. Boring equipment is used a lot in the mining industry.
As I watched the meeting last week I was amazed and embarrassed for Trump at his naivety and spectacle. I believe he actually did think he could get those significant industry leaders around the table and get their public commitment of 100% to a flaky deal of uncertain terms with all of the former regime in place with such precarious politics to put necessary boots on the ground for protection and a notional prize expecting oil prices probably below cost of production. I spent 42 years deep in the oil business from the rig floor to the board room. Those guys had to be chewing holes in the inside of their cheeks to keep from bursting out laughing.
XOM has enough exposure in Guiana with Venezuelan gun boats shutting down seismic operations in the perpetually disputed zone.
Then there is the Sandra Smith interview with two supposed energy experts that had me cussing mad at how foolish that was. It was hard to say who of the three was the bigger fool.
I started in the oil business with Exxon. There never has been a more pragmatic force that is more Borg like. Their representative could not have been more archetypica!.
Repsol and ENI should not have even been at the table. Never mind I have never worked with two more lousy companies why should the US guarantee their anything?
That was just a stupid meeting about dividing up a pig that isn’t even Trump’s to carve.
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