PBS News Hour - Full Show January 6, 2026 - PBS News Hour full episode
Jan 7, 2026
Join foreign affairs correspondent Nick Schifrin as he dives into the complexities of U.S. foreign policy towards Venezuela, while exploring President Trump's push for American firms to revive the country's oil industry. Lisa Desjardins provides insight into the ongoing political narratives surrounding January 6th, looking at the commemoration and the deep divisions it has caused. White House correspondent Liz Landers highlights the atmosphere of the anniversary events and the participants' defiance, contrasting their perspectives with policy analyst Andres Martinez-Fernandez's take on regional dynamics.
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Venezuela’s Oil Potential Vs. Real Constraints
- Venezuela sits on vast reserves but produces only about 1% of the world's oil due to sanctions and mismanagement.
- Restoring production needs ~$100 billion and major institutional change, not just quick repairs.
Require Institutional Credibility Before Investing
- Investors need long-term legal and institutional credibility before committing major capital to Venezuela.
- Short-term gains may come from companies already operating there, but systemic recovery requires stable governance.
Venezuelan Crude Matches U.S. Gulf Refineries
- Venezuelan heavy crude is well matched to Gulf Coast refineries which were optimized for heavier grades.
- Lack of pipeline and Keystone XL failures make U.S. refiners eager for Venezuelan heavy oil.
