The Houston Chronicle has an op-ed from a former ExxonMobil VP pointing out that Venezuela oil isn't going to lower gas prices anytime soon. Here's a key quote:
Fixing Venezuela’s oil and gas industry will be a massive job. President Donald Trump has called for at least $100 billion to rebuild it, and MarketWatch reports that number could reach almost $200 billion. To put that in perspective, ExxonMobil, Chevron and ConocoPhillips combined report spending only less than $50 billion a year on all their projects worldwide — and those figures reflect an intense capital discipline the companies have maintained since the pandemic. There are much safer places in the world to invest their shareholders’ money than Venezuela.
https://www.houstonchronicle.com/opinion/outlook/article/venezuela-oil-gas-prices-exxon-22154188.php
Posted by evan7257