The United States already has its for Venezuela. This Friday, Donald Trump met more than a dozen of the world’s largest oil companies at the White House to define the next steps of what is taken for granted in Washington: under US control.
Trump began the meeting by saying that “We had a situation three days ago with Venezuela and we are getting along extremely well with the people of Venezuelaboth with the people and with the people who run Venezuela. I just want to thank our military. “What they’ve done is incredible.”
To distribute the “loot”
Trump was exultant during the time of open doors and questions from the press, before closing the room and beginning “the serious”: “Today I am pleased welcome nearly two dozen of the world’s largest and most respected oil and gas executives to the White House…”, he greeted.
And he continued, euphoric: “Let’s discuss How These Big American Companies Can Help Quickly Rebuild Venezuela’s Dilapidated Oil Industry and bring millions of barrels of oil production to the benefit of the United States, the people of Venezuela and the entire world.”
He announced the first “advantages” of the intervention in Venezuela and the capture of Nicolás Maduro and Cilia Flores: “Yesterday the number was… of oil that Venezuela gave us. That’s a lot of oil. They are some 4 billion dollars and he’s on his way to the United States right now.”
He added, addressing Big Oil, that “you are dealing with us directly. They are not dealing with Venezuela at all. “We don’t want them to deal with Venezuela.”
“Really, if you look at it, we are taking back what was taken from us”
“Really, If you look at it, we are taking back what was taken from us.. They took away our oil industry. “We built that entire oil industry… But now they are being very kind,” he added.
You have to add money to the business
Trump advanced the monetary aspect of the roadmap, capital investment before profits: “The plan is that they, referring to our giant oil companies, spend at least $100 billion of your money, not government money“.
According to the consulting firm Rystad Energy, Just maintaining current production will require $52 billion until 2040. Returning to the levels of the 90s would raise the bill above 180,000 million. Trump, however, asks the private sector to assume 92 billion euros as a first step.
In exchange, Trump promised legal security, government protection and guaranteed profitability, although without specifying the mechanisms: “They don’t need money from the government, but they need protection from the government and security from the government.”.
And he continued with his confident tone and being in his element as a negotiator and businessman: “If you don’t want to come in, let us know, because I have 25 people who are not here today, who are willing to take their place.“
The bosses of the oil companies speak
The CEO of Repsol, Josu Jon Imaz, during a shareholders meeting at the Municipal Congress Palace of Madrid.
The time has come for the brief presentation of each of the leaders of the most important oil companies in the world: the Americans Chevron, ExxonMobil, ConocoPhillips, Halliburton, Valero Energy o Marathon Oilalong with major European actors such as Repsol, Shell, Eni, Vitol y Trafigura.
Repsol was represented by its CEO and former PNV deputy, Joshua Jon Imazspoke briefly, ensuring that they are “fully committed to investing here in the United States”. “We are in Venezuela, Mr. President, with our ENI partners. We produce the gas that guarantees the stability of half of the electrical network in Venezuela and we are ready to invest more in Venezuela“he added.
Repsol European company most exposed in Venezuelawith a presence since the 90s and a heritage exposure of 330 million euros, according to its latest accounting update.
He concluded his speech by thanking Trump “the great work he has done”.
The rest of the oil leaders spoke, all delighted and excited about Trump’s plans, ready to give their all. Trump nodded satisfied, answering each of them. TO Ryan Lance (ConocoPhillips)For example, he told him that “you will get a lot of your money back”.
A gigantic bill for a sector in ruins
On paper, Venezuela has about 20% of the world’s oil reserves proven, but exploiting them is neither easy nor cheap. The heart of the system, the Orinoco Belt, houses the largest volume of extra-heavy crude oil on the planet and presents enormous geological and technical difficulties.
Added to this is severely damaged infrastructure. Pipelines, refineries and storage systems show advanced signs of abandonment after years without maintenance.
Trump’s “pearls” to journalists’ questions
There was also time to respond to the questions raised by the press, which, as expected, was not only interested in the future of Venezuela, but also in so many hot topics involving the US and Trump. The barrage of relevant phrases was notable:
- On capturing Vladimir Putin (mentioned by Zelensky): “I don’t think it’s necessary. “I think we’re going to have… I’ve always had a great relationship with him… I think we’re going to end up working it out.”
- On if Venezuela is now an ally: “Well, right now they seem to be an ally and I think they will continue to be an ally.”
- About the Nobel Peace Prize: “I can’t think of anyone in history who should receive the Nobel Prize more than me.. And I don’t want to brag, but no one else solved wars… Obama received the Nobel Prize. I had no idea why. “He still has no idea.”
- About Greenland: “We’re going to do something in Greenland, whether you like it or not.. Because if we don’t, Russia or China will take over Greenland… We’re going to be doing something with Greenland, whether it’s the hard way or the hard way.”
- On the distribution of money from oil sales: “We are designing a formula… It will be about what they need. We will take care of what they need. There will be a lot left over. There will be a lot of money left over. And the leftover money will go to the United States of America. And the oil companies will be very happy.”
- About the protesters in Iran: “I just hope that the protesters in Iran are safe because that is a very dangerous place right now. And again, I say to the Iranian leaders that They better not start shooting because we will start shooting too“.
