Trump Seeks $100 Billion for Venezuela Oil, Exxon Boss Cites Investment Concerns
Washington D.C. - U.S. President Donald Trump requested at least $100 billion in oil industry spending for Venezuela, but faced hesitancy from oil executives at a recent White House meeting. The executives, while acknowledging Venezuela's vast energy reserves, expressed concerns about the country's current investment climate.
The meeting, attended by bosses of major U.S. oil firms, highlighted the potential opportunities in Venezuela following the ouster of Nicolás Maduro. However, one executive warned that the South American nation was currently "uninvestable," according to the BBC.
While the oil executives acknowledged the enticing opportunity presented by Venezuela's significant energy reserves, they emphasized that substantial changes would be necessary to make the region an attractive investment. No immediate financial commitments were made during the meeting.
President Trump has stated his intention to "unleash" South America, suggesting a strong interest in developing Venezuela's oil sector. However, the lukewarm response from industry leaders indicates that significant hurdles remain before large-scale investment can occur.
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