Trump touts large US oil investments in Venezuela’s industry, but firms remain cautious amid low prices and instability.
By Louis Jacobson | PolitiFact
Since the abduction of Venezuelan President Nicolas Maduro by US special forces, President Donald Trump has promised US investment in the country’s underproductive oil fields.
“We’re going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country,” Trump said in a Mar-a-Lago news conference on January 3.
He reiterated this on January 4 to reporters on Air Force One, saying, “We’re going to have big investments by the oil companies to bring back the infrastructure. The oil companies are ready to go.”
But are they? It is less certain than Trump makes it sound.
