Big Take Why Trump Wants Venezuela’s Oil
29 snips
Jan 9, 2026 
Javier Blas, a seasoned Bloomberg Opinion columnist and energy reporter, delves into the Trump Administration's strategic focus on Venezuela's oil reserves. He explores how the U.S. aims to revive its oil production, despite its current decline. The conversation reveals the geopolitical stakes, including lowering oil prices and countering rivals like China and Russia. Blas discusses the potential for U.S. investments in Venezuela’s aging infrastructure and the implications for domestic politics—particularly how cheaper gas prices might benefit the administration ahead of elections.
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Oil Is The Central Motive
- Venezuela's oil remains central to U.S. plans despite low current output.
- President Trump repeatedly emphasized oil as the main goal in Venezuela policy.
Huge Untapped Historic Capacity
- Venezuela once produced nearly 3.7 million barrels per day but now pumps about 1 million.
- Javier Blas says the country has the means to be a top producer again if infrastructure is fixed.
Decay From Mismanagement And Sanctions
- Maduro-era mismanagement and sanctions let oil infrastructure rot and skilled workers leave.
- Restoring basic maintenance and replacing failed pumps could quickly stabilize production.