The US Energy Secretary denies ‘stealing’ Venezuelan oil, despite a plan to hold revenues in offshore accounts under US control
By The Cradle
At a meeting at the White House on 9 January, the CEOs of major US energy firms expressed skepticism about participating in President Donald Trump’s scheme to invest $100 billion to “revive” Venezuela’s sanctions-battered oil sector.
The meeting took place one week after US Special Forces abducted Venezuelan President Nicolas Maduro and his wife and transferred them to New York to stand trial on trumped-up “narco-terrorism” charges.
After abducting Maduro, Trump said the US would “take over” Venezuela’s oil reserves, which are considered the largest in the world.
“It’s uninvestable,” ExxonMobil CEO Darren Woods told White House officials after hearing Trump’s proposal to invest in the country.
“There are a number of legal and commercial frameworks that would have to be established to even understand what kind of returns we would get on the investment.”
CNN reported that other executives “expressed similar reluctance,” warning Trump would need to provide extensive security and financial guarantees before beginning a long-term effort to revive an oil sector battered by decades of US sanctions.
Recent Posts
U.S. Sent a Rescue Plane For Boat Strike Survivors. It Took 45 Hours To Arrive.
Take Action Now In seas that could kill a person within an hour, it took nearly two days for a rescue plane to arrive.By Tomi McCluskey and Nick…
“Keep Hope Alive”: Remembering Rev. Jesse Jackson, Civil Rights Icon Who Twice Ran For President
Take Action Now “Our father was a servant leader — not only to our family, but to the oppressed, the voiceless, and the overlooked around the…
The Iranian Trap: Neither Military Action Nor Nuclear Negotiations Can Solve Trump’s (and Israel’s) Conundrum
Take Action Now After a failed regime-change strategy and an increasingly risky military buildup, the Trump administration turns back to nuclear…
Suffocating an Island: What the U.S. Blockade Is Doing to Cuba
Take Action Now Electric motorcycles are Cuba’s response to the fuel crisis.By Medea Benjamin Marta Jiménez, a hairdresser in Cuba’s eastern city…