Donald Trump has asked for at least $100bn (£75bn) in oil industry spending for Venezuela, but received a lukewarm response at the White House as one executive warned the South American country was currently “uninvestable”.
Bosses of the biggest US oil firms who attended the meeting acknowledged that Venezuela, sitting on vast energy reserves, represented an enticing opportunity.
But they said significant changes would be needed to make the region an attractive investment. No major financial commitments were immediately forthcoming.
An article i read states that with China and India fully investing into EV technologies, we could see oil demand peak in 2030 and:
“The tragedy is that we’re fighting over barrels that look huge on spreadsheets but shrink rapidly when confronted with physics, economics and time,” said Guy Prince, the head of energy supply research at the thinktank.