U.S. President Donald Trump vowed to tap into Venezuela's oil reserves after declaring his intention to seize control from President Nicolás Maduro, stating the U.S. would "run" the country until a "safe" transition occurred. Trump's plan involves encouraging American oil firms to invest billions of dollars into Venezuela, a nation possessing the world's largest crude oil reserves, to mobilize the largely untapped resource. He asserted that U.S. companies would repair Venezuela's "badly broken" oil infrastructure and "start making money for the country."

However, experts cautioned that Trump's plan faces significant challenges, estimating that it would cost billions of dollars and take up to a decade to significantly increase oil output. The feasibility of the U.S. taking control of Venezuela's oil reserves and the overall success of Trump's plan remain uncertain.

Venezuela holds an estimated 303 billion barrels of proven oil reserves, the largest in the world. Despite this vast potential, the country's current oil production is significantly lower than its historical levels. Oil output has declined sharply since the early 2000s, under the leadership of former President Hugo Chavez and subsequently the Maduro administration. This decline is attributed to a combination of factors, including nationalization policies, mismanagement, corruption, and a lack of investment in infrastructure and technology.

Venezuela's oil sector, once the backbone of its economy, has suffered greatly from political instability and economic mismanagement. The country's reliance on oil revenues has made it particularly vulnerable to fluctuations in global oil prices. The current political crisis, marked by a power struggle between Maduro and opposition leader Juan Guaidó, further complicates efforts to revitalize the oil industry.

The international community holds diverse perspectives on the situation in Venezuela. Some countries support Maduro, while others recognize Guaidó as the legitimate interim president. The United States has imposed sanctions on Venezuela in an effort to pressure Maduro to step down. These sanctions have further crippled the country's economy and oil production.

The future of Venezuela's oil industry remains uncertain. Any attempt to revitalize the sector would require significant investment, political stability, and international cooperation. The success of Trump's plan hinges on overcoming these challenges and navigating the complex political and economic landscape of Venezuela.