Trump says U.S. will seize Venezuela’s oil and 'run' the country after Maduro capture

President Trump said he intends to seize Venezuela’s oil and to "run" the country after a predawn attack that led to the capture of Nicolás Maduro, the article said. Mr. Trump told reporters that American companies would be able to tap Venezuela’s vast oil reserves and that the money would go to Venezuelans, American oil companies and "to the United States of America in the form of reimbursement for the damages caused us by that country." He said the operation "won't cost us anything because the money coming out of the ground is very substantial," and that "we're going to get reimbursed for everything that we spend." There was little immediate clarity on how the White House envisions profiting from Venezuela's oil, the article said.

Analysts warned that large increases in production could take years and tens of billions of dollars. Venezuela holds about 17 percent of the world's known oil reserves — more than 300 billion barrels — but produces only about 1 percent of the world total. The Times said the history of nationalization and past disputes with U.S.

companies feeds the administration's contention that Venezuela "stole oil" from the United States. Chevron, the only U.S. company operating in Venezuela in recent years, was circumspect: it first issued a statement about working constructively with the U.S.

Key Topics

Politics, Donald Trump, Venezuela, Nicolas Maduro, Chevron, Pdvsa