ASIATODAY.ID, WASHINGTON – US President Donald Trump has ignited global controversy by claiming that the United States could control up to 55% of the world’s oil production if American energy companies regain access to Venezuela’s vast petroleum sector.
Speaking after a high-level meeting at the White House with executives from ExxonMobil, Chevron, and ConocoPhillips, Trump framed Venezuela as the missing piece in what he described as America’s future dominance of the global energy market.
“American companies will rebuild Venezuela’s energy infrastructure and raise production to levels never seen before,” Trump said.
“When you add Venezuela and the United States together, we have 55% of the oil in the world.”
Venezuela holds the largest proven oil reserves globally, but its energy industry has been largely closed to US firms since the early 2000s, when then-president Hugo Chavez nationalized foreign-owned assets, forcing American companies out.
Nationalization, Abduction, and Sovereignty Claims
Trump has repeatedly labeled the nationalization of US assets under Chavez as “unfair,” citing it as one of the justifications for last week’s dramatic US military operation that abducted Venezuelan President Nicolas Maduro from his compound in Caracas.
Maduro, Chavez’s successor, was transported to the United States and appeared before a federal judge on Monday, where he pleaded not guilty to charges related to drug trafficking and weapons offenses.
The Venezuelan government has denounced the operation as a flagrant violation of national sovereignty, accusing Washington of using legal and military pressure to seize control of the country’s natural resources.
$100 Billion Pledge Meets Industry Skepticism
Following the White House meeting, Trump announced that US energy companies were prepared to invest at least $100 billion to revive Venezuela’s oil sector. However, industry leaders struck a more cautious tone.
ExxonMobil CEO Darren Woods warned that Venezuela remains “uninvestable” without sweeping regulatory reforms and a full restructuring of its energy framework.
Meanwhile, Delcy Rodriguez, a close Maduro ally sworn in as acting president during his absence, stated that Caracas was open to energy cooperation with all partners, including the United States—an ambiguous signal amid escalating tensions.
US Expands Oil Blockade, Seizes Fifth Tanker
The confrontation has intensified at sea. The US military announced the seizure of a fifth oil tanker in the Caribbean as part of its expanding blockade of Venezuela.
The vessel, Olina, was boarded without incident early Friday morning while flying the flag of Timor-Leste, according to US Southern Command. The tanker had reportedly recently traveled from Venezuela and returned to the region.
“This operation is unwavering in its mission to end illicit activity and restore security in the Western Hemisphere,” the command said, referring to Operation Southern Spear.
Video footage released by the US military shows heavily armed troops descending from a helicopter and securing the vessel’s superstructure.
Earlier this week, US forces seized two additional tankers, Sophia and Marinera—the latter previously known as Bella 1. One vessel attempted to evade interception by changing its name and switching to a Russian flag after receiving a temporary sailing permit from Moscow.
Despite this, the tanker was ultimately intercepted in international waters northwest of Scotland during a large-scale US operation backed by the United Kingdom.
Russia Condemns Seizure, Warns of Dangerous Precedent
Russia has strongly condemned the seizure, calling it a gross violation of international maritime law and a breach of the UN Convention on the Law of the Sea. Moscow warned that such actions set a dangerous precedent for global shipping and energy security.
With sweeping claims of global oil dominance, a $100 billion investment pledge, the capture of a sitting head of state, and an expanding naval blockade, the US–Venezuela standoff has evolved into more than a bilateral crisis.
It is now a high-stakes geopolitical battle over energy supremacy, where oil is no longer just a commodity—but a weapon of power. (RT)
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