Trump's Bold $100 Billion Oil Gamble in Venezuela

U.S. President Donald Trump met with oil executives to discuss a $100 billion investment in Venezuela's oil industry. Trump aims to rebuild and boost Venezuela’s oil production, previously crippled by Nicolas Maduro’s regime. The U.S. promises to secure financial backing and lower energy prices through indefinite crude oil deliveries.

U.S. President Donald Trump engaged executives from leading oil companies at the White House on Friday, urging a $100 billion investment to revitalize Venezuela's oil infrastructure amidst political changes. Following the U.S. seizure of Venezuelan leader Nicolas Maduro, Trump seeks to make oil central in his strategy for the South American country.

The meeting, featuring top executives from Exxon Mobil and Chevron, emphasized a new era of cooperation between the U.S. and Venezuela. Trump touted an agreement for 50 million barrels of Venezuelan crude oil to be delivered to the U.S. and indicated plans for continued cooperation, promising lower energy prices domestically.

While the prospect of re-entering Venezuela tantalizes many companies, industry leaders express caution due to the nation's volatility. President Trump reassured investors with commitments to ensure their security and highlighted potential new funding avenues, such as the U.S. Export-Import Bank, to mitigate risks.

(With inputs from agencies.)