Trump pushes oil giants to rebuild Venezuela’s energy sector

President Donald Trump urged oil executives to invest $100 billion in Venezuela’s oil industry at a White House meeting, pitching it as a chance to rebuild infrastructure and boost energy output.

The president met with 20 executives to convince them to return to Venezuela, but companies seem reluctant as the country’s oil infrastructure needs major upgrades.

Trump floated the investment amount before the meeting, but according to CNN, low oil prices have made companies reluctant to commit.

Exxon even called the place “uninvestable” right now.

Recently, the US captured a fifth oil tanker as it continues its blockade. Trump also said that he cancelled a second attack on Venezuela, given that the two nations are working well together.