Trump Long Wanted to ‘Take the Oil.’ He Says He’ll Do It in Venezuela.

New York Times - World Economic ImpactNews ReportEN 4 min read 100% complete by Anton TroianovskiJanuary 4, 2026 at 12:30 AM

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In January 2026, President Trump stated his intention to exploit Venezuela's vast oil reserves following the capture of its leader, Nicolás Maduro. Trump indicated that the aggressive U.S. actions were necessary to curb drugs and migration from that country. He claimed American companies would benefit, with profits also reimbursing the U.S. for damages caused by Venezuela. Trump suggested the country's oil wealth was a key factor in his decision to attack, and pledged that the United States would "run" Venezuela for the foreseeable future. While Venezuela holds the world's largest oil reserves, analysts caution that significantly increasing production could be a lengthy and expensive process.

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Key Claims (5)

AI-Extracted

The money made, he said, would go not only to the people of Venezuela, but also to American oil companies.

quote — Mr. Trump100% confidence

We’re going to be taking out a tremendous amount of wealth out of the ground.

quote — Mr. Trump100% confidence

Venezuela has about 17 percent of the world’s known oil reserves, or more than 300 billion barrels.

statistic — Article's own claim90% confidence

Mr. Trump made it clear that he now intends to follow through.

factual — Article's own claim90% confidence

Analysts warn that large increases to the country’s oil production could take years and tens of billions of dollars in spending.

factual — Analysts80% confidence

Claims are automatically extracted and should be independently verified. Attribution indicates the stated source of the claim.

Key Entities & Roles

Key Player Opposition Context

PDVSA 50% White House ×260% United States ×680% Nicolás Maduro (Maduro) ×485% Venezuela ×990% Donald Trump ×795%

Keywords

venezuela 100% oil 100% donald trump 90% oil reserves 70% nicolás maduro 60% seizure 60% united states 60% attack 50% drug trafficking 40% migration 40%