"Trump said the project to have US oil industry companies expand their operations in the country could be "up and running" in less than 18 months, in an interview Monday with NBC News - a timeframe starkly at odds with estimates from energy industry experts, while oil companies have been largely silent about their willingness to reinvest in Venezuela."
""I think we can do it in less time than that, but it'll be a lot of money," Trump told NBC. "A tremendous amount of money will have to be spent and the oil companies will spend it, and then they'll get reimbursed by us or through revenue." The comments underscore the administration's view that Venezuela's vast oil reserves are central to both its recovery and US strategic interests."
President Donald Trump proposed subsidizing energy companies to rebuild Venezuela's oil industry and estimated production could resume within 18 months. He said oil firms would invest large sums and would be reimbursed by the United States or through revenue. The plan positions Venezuela's vast reserves as central to recovery and U.S. strategic interests but provides few details on how output would be restored or who would control interim revenues. Major oil companies have been largely silent about reinvestment. Years of corruption, underinvestment, fires and thefts have severely damaged Venezuelan crude facilities, and U.S. energy officials plan talks with industry executives.
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