U.S. President Donald Trump's vision for U.S. companies to engage with Venezuelan oil may face headwinds despite his interest in the country's resources. Several factors suggest that major oil companies might hesitate to invest heavily in Venezuela at this time.

One primary reason is the abundance of oil readily available within the United States. The rise of fracking has led to a surge in domestic oil production, making it potentially "safer, easier, and cheaper" for U.S. companies to procure the oil needed for the U.S. economy at home, according to Eduardo Porter.

Trump's interest in Venezuelan oil may stem from a desire to lower gasoline prices and stimulate the U.S. economy. He may believe that access to cheap oil could alleviate concerns about unemployment, particularly as the midterm elections approach. The president may also view Venezuelan oil as a potential source of revenue for the U.S. government or even for personal gain.

However, the political instability in Venezuela presents significant risks for potential investors. The current situation, where Trump has effectively declared himself the acting President of Venezuela, adds a layer of uncertainty that could deter major oil companies.

The memories of oil scarcity during the 1970s oil crises may also influence Trump's thinking, leading him to believe that cheap oil is a universal economic cure.