The transition to a more democratic form of governance in Venezuela, and one that is more friendly to U.S. interests, will be easier said than done. The South American nation has never experienced a full democracy, at least one that North Americans have a comparable conception of.
Not even during the 1950s & 1960s–when the U.S. influence of capitalism left its mark on the South American nation, making Venezuela one of the most prosperous countries in the Western Hemisphere–did the regime in Caracas fully embrace the idea of a government that could be representative of its people.
But following the early January U.S. special operation into that nation’s capital, which killed dozens of both Venezuelan and Cuban military security personnel, ultimately leading to the capture of Venezuela’s now deposed leader Nicolás Maduro and his wife Cilia Flores, the Venezuelan people and the diaspora have experienced a hopeful revival that they have not felt in generations.
On Friday, part of that transition involved the U.S. president’s meeting with the top oil executives in North America at the White House, where a roundtable was held to discuss future investment opportunities as officials in Washington create a landing zone for U.S. capital as part of its strategy to revitalize Venezuela’s ailing oil infrastructure.
Recent developments in Venezuela have attracted the attention of some of the world’s largest oil producers, who are eager to anchor their drills in the world’s largest reserves of oil, seconded by the desert fields of Saudi Arabia. However, President Trump is already reportedly taking picks on which firms he would like to see carry the mantle of U.S. productivity in Venezuela.
When speaking to reporters aboard Air Force One on Sunday, Trump announced that he is “inclined” to keep ExxonMobil out of Venezuelan oil fields, following skepticism of Venezuela’s current investment environment by the company’s CEO, Darren Woods.
When asked about the nation’s viability as a safe investment enterprise, Woods stated at the White House on Friday that “If we look at the commercial constructs and frameworks in place today in Venezuela, today it is un-investable.”
Trump remarked to reporters on Air Force One: “I didn’t like Exxon’s response,” adding, “They’re playing too cute.”
Over the weekend, the administration in Washington declared a State of Emergency in an attempt to shield Venezuelan oil revenue held by the U.S. government from seizure by private creditors, calling the move critical to U.S. national security and regional stability as the government in Washington supervises the nation’s political transition in Caracas.
Trump has also reaffirmed prior statements, commending Venezuela’s interim government under Acting President Delcy Rodríguez for its cooperation with officials in Washington.
President Trump has also expressed a wish to meet with Rodríguez in the near future.
Critics of the U.S. administration, including lawmakers on Capitol Hill, have called recent U.S. military action in Venezuela “clearly illegal.” The U.S. Senate on Thursday voted to advance a War Powers Resolution, which is expected to be voted on this week, aimed at curtailing U.S. military action in the South American country without approval from the U.S. Congress.
On Sunday, President Trump also posted a photo on Truth Social, depicting a screenshot of a Wikipedia bio of the president with an added title of “Acting President of Venezuela.”
