Trump's a moron.
He doesn't understand that total sales for Exxon, Chevron, Conoco and Shell are over $ 1 TRILLION DOLLARS.
Exxon has been burned twice by Venezuela.
Why would they need to risk going back in a THIRD TIME over a million or two barrels per day when they already have production coming out of the ground in less risky properties such as next door in Guyana?
It's shocking how uninformed he is.
He seems to still be living in the 70's with his knowledge base on oil.
If anything, he should be laser focused on the semi-conductor industry and Taiwan.
That's the new "oil".
Industry analysts have already stated that it would take
$20 Billion just to increase current Venezuelan production to 1.5 million bpd.
Yawn.
Trump told reporters aboard Air Force One that the
oil giant was "playing too cute."
"I didn't like Exxon's response. You know, we have so many that want it. I'd probably be inclined to keep Exxon out. I didn't like their response," he said.
ExxonMobil CEO Darren Woods told the administration on Friday at a roundtable event with other industry executives that Venezuela is currently
"uninvestable," citing weak legal protections, past asset seizures and the need for major changes to the country's hydrocarbon laws before ExxonMobil would consider reentering.
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