During a press conference, White House press secretary Karoline Leavitt stated that Trump retains the right to use military force to protect U.S. oil interests in Venezuela, emphasizing that military action would only be considered if deemed necessary.
Leavitt highlighted Trump's call for American oil companies to invest significantly in rebuilding Venezuela's energy sector, reiterating that diplomacy remains the administration's preferred approach. Currently, there are no U.S. troops on the ground in Venezuela, she noted.
A meeting is scheduled between Trump and executives from major oil companies, including ExxonMobil, ConocoPhillips, and Chevron, to discuss potential investments in Venezuela's energy resources. Chevron is the only U.S. oil major operating in Venezuela under a special license. This engagement follows a recent U.S. military operation that resulted in the ousting of Venezuelan President Nicolas Maduro, who faces federal charges in the U.S.
The Trump administration has also increased military presence in the Caribbean, deploying the USS Gerald R. Ford carrier strike group. Despite these military maneuvers, Trump has asserted that the U.S. is not at war with Venezuela.
Energy analysts suggest that U.S. oil companies require stability and security in Venezuela before making investment decisions. The country has the largest proven crude oil reserves globally but has seen production levels around 800,000 barrels per day. Trump announced that Venezuela is expected to send 30 to 50 million barrels of sanctioned oil to the U.S., which will be sold at market prices. Energy Secretary Chris Wright stated that the U.S. plans to control Venezuela's oil sales indefinitely to ensure necessary changes occur within the country.