Why Houston Oil Majors Are Hesitant to Go All In on Venezuela

President Donald Trump’s deadly invasion of Venezuela and kidnapping of its president could be an unusually clear example of “blood for oil.” The president has nearly said as much himself. But one hitch is that Houston’s oil giants don’t immediately appear eager to buy what Trump is selling.

Following the administration’s military coup, Trump suggested he may go so far as to use U.S. tax dollars to directly reimburse the nation’s largest oil firms for the billions they’d need to invest to repair and modernize the South American country’s dilapidated oil and gas infrastructure. The offer ups the ante on officials’ previous pledge, made in the days running up to the seizure of Nicolás Maduro, to compensate Big Oil firms for assets previously nationa...