After the dramatic capture of Venezuelan President Nicolás Maduro, global attention has shifted to a far bigger question: who controls the world’s largest oil reserves? With Venezuela holding the biggest proven oil reserves on Earth, President Donald Trump is pushing for a US-led revival of the country’s collapsed oil industry. But decades of mismanagement, sanctions, crumbling infrastructure and legal uncertainty mean rebuilding could cost over $100 billion and take years. While Chevron remains the last major US oil producer operating in Venezuela, other oil giants are hesitant to return without political stability, rule of law and investor guarantees. With oil prices near five-year lows and cheaper alternatives available elsewhere, reviving Venezuela’s oil sector remains a high-risk, long-term gamble rather than a quick energy win.
E-Paper
