Trump Venezuela Oil Policy 2026: Why U.S. Giants Hesitate Despite White House Push

The invitation's out, but the ground remains shaky. President Donald Trump's pushing for a significant return of U.S. oil giants to Venezuela, but economic and historical scars are keeping the industry's leaders cautious. While the administration sees an opportunity to reshape the global energy map, the reality on the ground tells a more complex story.

The Trump Venezuela Oil Policy: Ambition vs. Infrastructure

According to reports from Reuters, the Trump administration wants to leverage Venezuela's massive reserves to lower global energy prices and secure North American interests. As of January 10, 2026, the White House is reportedly encouraging companies like Chevron and other majors to expand their footprint in the region.

A Legacy of Nationalization and Decay

Despite the political green light, two major hurdles remain. First, Venezuela's energy infrastructure is in a state of severe crumbling decay due to years of underinvestment and sanctions. Experts suggest it'll take billions in upfront capital just to bring production back to pre-crisis levels. Second, the ghost of past nationalizations haunts corporate boardrooms. Companies haven't forgotten the sudden seizures of assets by the state, creating a trust deficit that's hard to bridge.