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News & Current Events Apr 1, 2026 at 2:32 PM

Trump administration launches new bid to attract U.S. oil companies to Venezuela — but finding few takers

Posted by joe4942

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RoosterMedical Apr 1, 2026 +1
The Iran war was designed to increase the price of oil to the point that oil companies would show interest in Venezuela but they cannot change Venezuela.
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Deicide1031 Apr 1, 2026 +1
Oil prices are still too low for most of them to want to enter Venezuela because VZ has high extraction costs. VZ also has had this habit of seizing foreign assets as well. More profitable to just stay in Texas for a lot of these companies, bothering that country was dumb.
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kia75 Apr 1, 2026 +1
It also would take *years* to build oil infrastructure in Venezuela. There's no guarantee that America would still be Venezuela's ally in years, even assuming Trump stays in power after 2029 that fickle Trump would remain happy with whatever company started the investment now and would reward it years later.
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JuJu_Wirehead Apr 1, 2026 +1
Nobody wants to build new facilities to deal with Venezuela's heavy crude. These morons didn't think a single f****** thing out.
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Villag3Idiot Apr 1, 2026 +1
They probably don't even know the difference between oil types and think they're all the same.
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JuJu_Wirehead Apr 1, 2026 +1
Wouldn't even surprise me. The level of incompetence is mind-bottling.
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Upbeat-Vacation-3374 Apr 1, 2026 +1
They know he won’t be around forever, but his mistakes will be lasting a long time.
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[deleted] Apr 1, 2026 +1
[deleted]
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MentalSky_ Apr 1, 2026 +1
One or two companies sucked his d***. Yet still haven’t set up in Venezuela 
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No-Land-7633 Apr 1, 2026 +1
Maybe its a problem to steal and sell stollen assets to others even they are greedy
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SPACE_ICE Apr 1, 2026 +1
some rough math at $100 a barrell and three million barrels a day is rougjly 300,000,000 a day. It would take 460 days of pure gross profit to offset the estimated 138 billion infrastructure cost... they don't make more than 40%margin at the very highest down to 5% and considering venezuela crude is already one of the most expensive to process probably closer to 5% net margin, i.e. it would take decades to recoup the build cost of infrastructure and given the countries of history of just taking it over this makes entering Venezuala an extremely risky prospect, not really surprising no oil company is jumping at this "opportunity" about as safe as taking a contracting job from Trump.
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W031zMe Apr 1, 2026 +1
He counts on them to be as ignorant and shortsighted as he is. Big mistake!
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Street-Wear-2925 Apr 1, 2026 +1
Perhaps the Oil Companies remember the Nationalization of the Oil Industry in Venezuela. They didn't come out winners then.
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