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Major US oil executives expressed caution to Donald Trump about reentering Venezuela, even as the president pressured their companies to spend at least $100 billion to revive the country’s crude oil production.
Trump convened nearly 20 industry representatives in the East Room of the White House on Friday and predicted they could come to an agreement “today or very shortly thereafter” to restart operations in the oil-rich Latin American country, following the brazen capture of leader Nicolás Maduro.
“If you don’t want to go in, just let me know, because I’ve got 25 people that aren’t here today that are willing to take your place,” Trump told the oil representatives.
Comments from some of the executives indicated the president may need to do more convincing. While many praised Trump and said they relished the opportunity resulting from last weekend’s military action, they stressed that hard work remained before they could make substantive investments. Exxon Mobil Corp. Chief Executive Officer Darren Woods said that Venezuela is currently “uninvestable.”
Today's show features:
- Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council, on oil executives’ White House visit with President Donald Trump
- Rockford Weitz, Professor of Practice & Director of the Maritime Studies Program at Tufts University's Fletcher School of Law and Diplomacy, on the latest developments in Venezuela and other global geopolitical hotspots
- Gregory Daco, Chief Economist at EY, on the December nonfarm payrolls report and the broader US economic outlook
- Katie Hubbard, President of US Capital Markets at Walton Global on President Donald Trump proposed ban on institutional residential real estate purchases and push to make Fannie Mae and Freddie Mac buy $200 billion in mortgage bonds
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