Trump claims American companies will quickly revive Venezuela's oil sector, but the speaker explains why they won't: political risk, tens of billions in infrastructure costs, oil price uncertainty, and legal tangles from past nationalizations. US firms are unlikely to take the bet.
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While Mr. Trump is saying, and I quote, American companies are going to rapidly dilapidate the oil industry and bring in millions of barrels of oil production to benefit the US, the Venezuelan people, and the rest of the world, end of quote. Let's get real, Mr. Trump. American oil executives are hesitant to rebuild Venezuela's oil sector due to a high political risk, massive infrastructure costs which will be estimated in tens of billions of dollars, uncertainty over oil prices, and of course, complex legal issues from past nationalizations. You know, despite recent US government pushes and promises of reimbursements. Are you going to trust what the US government is saying? Anyway, here is the bottom line. Assessing the reaction of the US oil executives, I am leaning more towards not seeing them involved in the long term for the reasons I mentioned: political instability, security dilemma, uncertainty, Venezuela's own oil industry which is in shambles, and of course, a history of Venezuelan government seizing US oil assets. What do you think? Make sure to leave me a comment in the comment section. Bye.