Venezuela's Oil Reserves and Potential U.S. Investment
Following Nicolás Maduro's capture, President Trump is promoting U.S. oil company investment in Venezuela's oil sector. Philip Luck from CSIS provides expert commentary on this geopolitical opportunity.
Venezuela possesses approximately 300 billion barrels of proven oil reserves, the world's largest, yet its oil industry has deteriorated significantly due to mismanagement, economic crisis, and political instability. President Trump is encouraging American oil companies to invest in revitalizing this sector.
Such investment could stabilize Venezuela's economy but faces substantial obstacles including outdated infrastructure, international sanctions, political uncertainty, and decades of underinvestment. Successful investment would require comprehensive political and economic reforms, potentially including leadership transitions.
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