Secretary of Energy Chris Wright recently shared insights about the future of American oil companies in Venezuela. With the ousting of former President Nicolás Maduro, he believes these companies could soon play a bigger role in the country’s oil industry.
Wright expressed on “Face the Nation” that while American businesses have the potential to expand in Venezuela, the U.S. isn’t taking control of the state-owned PDVSA oil company. Instead, the American government is currently managing the sale of Venezuela’s crude oil. This setup is designed to ensure funds benefit both Americans and Venezuelans.
On January 3, U.S. forces apprehended Maduro and his wife, bringing them to New York to face allegations of narco-terrorism and drug-related charges. They have pleaded not guilty. Wright anticipates that change could happen quickly in Venezuela, given the U.S. influence over oil sales.
He stated, “We think we will see relatively rapid improvement on the ground in Venezuela.” However, he reminded viewers that meaningful progress will take time. Currently, the U.S. is collaborating with Maduro’s former officials, despite some facing indictments in the U.S. For instance, Diosdado Cabello, a key figure in the Venezuelan government, has also been indicted.
Wright emphasized the need to work with current leaders to prevent a total collapse of the nation. While he acknowledged there’s no legitimate government at the moment, he expressed hope that a representative government would emerge. This would restore sovereignty to the people of Venezuela.
In a recent social media post, President Trump also warned Cuba about losing access to Venezuelan oil, telling them to negotiate before it’s too late. Nevertheless, Wright mentioned that the U.S. isn’t currently pressuring Mexico, a major fuel supplier to Cuba, to stop oil shipments.
Recent statistics show that about 80% of Venezuelans live in poverty, highlighting the country’s urgent need for economic change. As the situation evolves, the impact on both Venezuelan citizens and international relations will be closely observed.
For more details on the current state of Venezuelan oil, you can refer to a report from the U.S. Energy Information Administration (EIA).
