U.S. President Donald Trump requested at least $100 billion in oil industry investment for Venezuela, following a hypothetical ouster of its current leader Nicolas Maduro, but faced skepticism from oil executives, including ExxonMobil's CEO, who deemed the country "uninvestable" under present conditions. The request was made during a meeting at the White House on Friday, where Trump outlined a plan to revitalize Venezuela's oil production after a U.S. operation purportedly removed Maduro from power on January 3. Trump stated that the U.S. would benefit from lower energy prices as a result of this plan.

However, oil executives present at the meeting expressed reservations about investing in Venezuela, despite acknowledging its substantial energy reserves. Darren Woods, ExxonMobil's chief executive, highlighted the risks, stating, "We have had our assets seized there twice and so you can imagine to re-enter a third time would require..." He implied that significant changes in the country's political and economic landscape would be necessary before ExxonMobil, or potentially other major oil firms, would consider reinvesting. No immediate financial commitments were made during the meeting.

Venezuela possesses some of the world's largest proven oil reserves, a resource that has historically been a cornerstone of its economy. However, years of political instability, corruption, and mismanagement under the socialist governments of Hugo Chavez and Nicolas Maduro have crippled the oil industry. Nationalization policies, including the seizure of foreign assets, have deterred international investment and led to a decline in production. This decline has exacerbated Venezuela's economic crisis, leading to widespread poverty, hyperinflation, and mass emigration.

The hypothetical scenario presented by President Trump involves a significant intervention in Venezuela's internal affairs, a move that would likely draw condemnation from some international actors. Historically, U.S. involvement in Latin American politics has been met with mixed reactions, often viewed with suspicion due to past instances of interventionism. Any attempt to control Venezuela's oil resources would likely be seen by some as a violation of national sovereignty and could further destabilize the region.

The current status remains uncertain, as the scenario depends on a hypothetical removal of Maduro. Without significant political and economic reforms that guarantee the security of foreign investments, it is unlikely that major oil companies will be willing to commit substantial capital to Venezuela, regardless of potential incentives. The future of Venezuela's oil industry, and the country's overall economic recovery, hinges on resolving its deep-seated political and institutional challenges.