… twice shy.
Oil exploitation is a highly risky business : American companies have already experienced the confiscation of their assets in Venezuela under Hugo Chavez shortly after he came to power (1999) and also the impotence of the American government at that time to come to their aid.
Recently, Trump’s armada and the seizure of tankers transporting Venezuelan oil in the Caribbean Sea and even beyond dealt a significant blow to Russian investments, as Putin had tried to revive oil production for his own benefit, without success since 2017 (and the re-election of Nicolas Maduro). This is also without taking into account the oil that China is waiting for, in payment of its Venezuelan debt. China is owed at least $10 billion from Venezuela,
That’s why the CEO of the American majors were so shy when they were invited by Trumpoleon at the White house this week. American government estimate the need for cash at 100 billion to rebuild the country’s oil capacity. The oil CEO asked for physical and military guarantees, but also for a judiciary framework to go to Venezuela and invest in the country. And of course, Trumpoleon was unable to give them such things : it’s the usual abyss void of the day after, a typical thing with our national brain-excited eccentric. Look…
Darren Woods, CEO of ExxonMobil, the largest American oil company, judged that « If we look at the commercial constructs and frameworks in place today in Venezuela, it’s uninvestable. » Trumpoleon had warned them before : « If you don’t want to go, just tell me, because there are 25 people ready to take your place. »
Mr. ExxonMobile, you didn’t understand well what your president said. You’ve just angered him, and now he has forgotten your phone number so he can’t call you back in the next months. Too bad ! – just kidding. Twenty five ? Not just even one…