Big Oil and Big Politics: Trump vs. Exxon in Venezuela
Venezuela's Oil Reserves
Venezuela sits atop the world's largest oil reserves. This makes it a prime target for big oil companies. However, the situation is far from straightforward.
Exxon Mobil's Caution
Exxon Mobil, a global oil giant, has been hesitant. Their CEO, Darren Woods, even expressed reservations to President Trump. This bold move didn't sit well with the president.
Trump's Reaction
Trump was not pleased. He accused Exxon of "playing too cute" and threatened to bar them from Venezuela. This highlights the immense power the president wields over major corporations.
The U.S. Interest
Why is Trump so focused on Venezuela? It's about oil, but it's also about politics. The U.S. has a long, complicated history with Venezuela.
Other Oil Companies
Other companies are eyeing Venezuela but are proceeding with caution. Chevron is the only major U.S. oil company still operating there, suggesting they've found a way to navigate the risks.
Trump's Guarantees
Trump has promised guarantees for oil companies, but the details are vague. One thing is clear: he wants U.S. companies back in Venezuela and isn't happy when they don't comply.
