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Trump Eyes Venezuela Visit But Oil Plan Faces Major Hurdles. Donald Trump says he plans to visit Venezuela as he looks to expand US access to the country’s vast oil reserves — the largest in the world. The comments follow a trip to Caracas by US Energy Secretary Chris Wright after Venezuela passed new legislation allowing private and foreign investment in its oil sector for the first time in decades. Trump has described the move as a major opportunity for US companies, saying American firms could dramatically increase oil extraction. But analysts warn significant obstacles remain. Venezuela’s state oil company, PDVSA, has suffered years of underinvestment and declining production. While US sanctions may be revised, rebuilding infrastructure would require substantial capital and time. Economists say Trump’s goal is to boost global supply, lower consumer prices and support a more US-friendly government in Caracas. For American energy firms, however, the central question remains whether the financial and political risks outweigh the potential rewards.
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