President Donald Trump said the U.S. might subsidize American oil companies to help rebuild Venezuela’s crumbling energy infrastructure.
The move, if it happens, could send billions of U.S. taxpayer dollars to companies like Chevron, ExxonMobil, and ConocoPhillips to restore oil production in the South American country.
In an interview with NBC News on Monday, Trump said the U.S. could foot part of the bill to get Venezuela’s oil sector running again. He claimed the work could take less than 18 months.
The announcement came just days after U.S. forces captured Venezuelan leader Nicolás Maduro in a surprise raid and flew him to the United States to face narcoterrorism charges.
Trump later told NBC News, “The oil companies were absolutely aware that we were thinking about doing something. But we didn’t tell them we were going to do it.”
Despite Trump’s claim that he’d spoken to “all” the major U.S. oil companies before and after Maduro’s arrest, four industry executives, according to Reuters, said that Chevron, Exxon, and ConocoPhillips hadn’t had any direct conversations with the administration about returning to Venezuela.
Still, the Trump administration is now planning meetings with oil company executives this week to explore the path forward.
According to CBS News, Energy Secretary Chris Wright is expected to host the talks on Thursday.
Spencer Hakimian, a political commentator, summed up the sentiment with a post yesterday:
“BREAKING: US introducing SOCIALISM to Venezuela.”
A Risky Re-Entry Into Venezuela
The administration hopes U.S. companies will invest heavily in Venezuela, a former OPEC member that holds the world’s largest oil reserves.
Production there has plummeted after years of underinvestment and sanctions.
Trump’s plan faces major obstacles: broken infrastructure, unclear legal conditions, political instability, and a skeptical oil industry.
According to Reuters, one oil executive said that Chevron may be the only company willing to act in the short term.
Exxon and ConocoPhillips had their assets seized by the Venezuelan government under former President Hugo Chavez and are still pursuing restitution.
“All of our oil companies are ready and willing to make big investments in Venezuela that will rebuild their oil infrastructure, which was destroyed by the illegitimate Maduro regime,” White House spokesperson Taylor Rogers said.
But critics argue it’s American taxpayers who will bear the burden of that rebuild.
Online Reactions: “Subsidizing Billionaires”
The backlash online was swift. Many people criticized the plan as corporate welfare. “Your tax dollars subsidizing billionaires and their mega corporations,” one person wrote.
Another added, “Once again, the taxpayers get screwed.”
One person called it a potential imperialist quagmire.
“If I’m correct about my imperialism thesis and the Trump admin is dead-set on US oil companies profiting from instability in Venezuela, then US troops will be necessary in order to pacify Venezuela sufficiently to allow oil companies to extract freely. That’s a quagmire.”
Others mocked the contradiction of subsidizing corporations while decrying socialism.
“Only billionaires deserve socialism or guaranteed income. #SoRepublican,” one post read.
Another said, “Trump doesn’t give two golden sh*ts about the people of Venezuela.”
Economically, skeptics questioned how much this effort would cost. “In 2025, the debt increased by 2.23 trillion,” one person posted.
“How much will this fun new foreign endeavor that will benefit oil companies—especially those that are major Trump donors—cost the American people??”
Some defenders argued the plan could pay off. “This is clearly a public-private investment,” one person wrote.
“The US will be making the investment back multiple times by taxing the profits of the energy companies.”
But the skepticism remained.
Energy Markets Respond
Despite the backlash, energy markets responded positively.
Chevron stock rose 5.1%, and ExxonMobil gained 2.2%, pushing the S&P 500 energy index to its highest point since March 2025.
Chevron currently exports around 150,000 barrels per day of crude from Venezuela to the U.S. Gulf Coast.
The company has kept a quiet but steady presence in the country, while Exxon and ConocoPhillips exited years ago after nationalization.
As the situation unfolds, it remains unclear whether Trump’s proposal will materialize or how much taxpayer money might ultimately be involved.
For now, the administration is signaling it wants U.S. oil companies back in Venezuela, and is willing to use public funds to make that happen.
IMAGE CREDIT: “President Donald Trump” by Gage Skidmore, via Flickr. Licensed under CC BY-SA 2.0. Image adjusted for layout.