To put it crudely, Big Oil will scupper Trump’s Venezuela plan

Jan 10, 2026 | 19:11 IST

Investors will be wary of pouring capital into a legal vacuum under a socialist govt whose legitimacy is contested

Trump’s notion that his action will transform US energy security belongs to a Cold War mindset. Oil is no longer the strategic choke point it once was. Big Oil knows it is a sunset industry and will invest only in profitable locations

Donald Trump is advertising his abduction of Venezuela’s President Maduro as hard-nosed realpolitik. Without putting troops on the ground, he says Washington will do business with Nicolás Maduro’s lieutenants, secure oil, and put American companies — notably Chevron, Exxon Mobil, and ConocoPhillips — back in charge of the world’s largest proven reserves.

But the reaction of oil executives in Houston is less “hurrah!” than “what is this crap?” Trump hoped for gratitude from Big Oil. But the industry’s scepticism is as heavy as Venezuela’s bituminous crude.

TOI

TOI

To put it crudely, Big Oil will scupper Trump’s Venezuela plan

Trump’s notion that his action will transform US energy security belongs to a Cold War mindset. Oil is no longer the strategic choke point it once was. Big Oil knows it is a sunset industry and will invest only in profitable locations

{{{h1}}}

{{{h1}}}

{{{h3}}}

{{{offerprice}}}

{{{h3}}}

{{{offerprice}}}

{{{h1}}}

{{{h1}}}

{{{h1}}}

{{h2}}

{{{h1}}}

{{h2}}

{{{h1}}}

{{h2}}

Your Privacy is Important to us

Opt out of the sale or sharing of personal information

TOI

To put it crudely, Big Oil will scupper Trump’s Venezuela plan

Trump’s notion that his action will transform US energy security belongs to a Cold War mindset. Oil is no longer the strategic choke point it once was. Big Oil knows it is a sunset industry and will invest only in profitable locations

{{{h1}}}

{{{h1}}}

{{{h3}}}

{{{offerprice}}}

{{{h3}}}

{{{offerprice}}}

{{{h1}}}

{{{h1}}}

{{{h1}}}

{{h2}}

{{{h1}}}

{{h2}}

{{{h1}}}

{{h2}}