U.S. President Donald Trump vowed to tap into Venezuela's vast oil reserves after declaring the U.S. would effectively "run" the country until a "safe" transition of power occurred following the seizure of President Nicolás Maduro. Trump's plan envisions American oil firms investing billions of dollars to mobilize Venezuela's largely untapped crude oil reserves, the largest on the planet. He asserted that U.S. companies would repair Venezuela's "badly broken" oil infrastructure and generate revenue for the country.

However, experts cautioned that Trump's plan faces significant challenges, estimating that it would cost billions of dollars and could 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 likelihood of Trump's plan succeeding, remain uncertain.

Venezuela holds an estimated 303 billion barrels of proven oil reserves, the largest in the world. However, its current oil production is significantly lower than its potential. Oil output has declined sharply since the early 2000s, as the governments of former President Hugo Chavez and later Nicolás Maduro increased control over the state-run oil company, Petróleos de Venezuela, S.A. (PDVSA). This nationalization, coupled with mismanagement and corruption, led to a decline in investment and operational efficiency.

The country's economic crisis, exacerbated by U.S. sanctions, has further crippled its oil industry. The sanctions, aimed at pressuring Maduro to step down, have restricted Venezuela's access to international markets and financing, hindering its ability to maintain and upgrade its oil infrastructure.

Analysts point out that any attempt to revitalize Venezuela's oil industry would require a stable political environment, significant investment, and the cooperation of international partners. The current political instability and the risk of further sanctions pose major obstacles to Trump's plan. Moreover, the involvement of U.S. companies could face resistance from within Venezuela, where national sovereignty and control over natural resources are sensitive issues.

The international community remains divided on the Venezuelan crisis. While some countries, including the U.S., recognize opposition leader Juan Guaidó as the legitimate interim president, others continue to support Maduro. This division complicates any potential international effort to address Venezuela's economic and political challenges.

The future of Venezuela's oil industry, and the success of any plan to revitalize it, hinges on resolving the country's political crisis and creating a stable environment for investment and development. The current situation remains fluid, with the potential for further escalation and uncertainty.