The small suburban city is often referred to as ‘Katyzuela’ because of its large Venezuelan population. Its residents are feeling the effects of Trump administration policies on Venezuelan oil and immigration.
Exxon Mobil and Chevron posted their lowest annual profits since 2021 in their earnings reports on Friday, a sign that now is not really a time when big oil is looking to make any kinds of sizeable investments in new oil production.
One climate scientist found that 29% of methane produced by Venezuela’s oil and gas industry escapes into the atmosphere. Fixing it would cost billions.
The Trump administration declared that it would control Venezuelan oil production indefinitely. But what could that actually mean for the U.S. and for Venezuela?
“If you're a U.S. energy company looking at investment in Venezuela, you're not looking at this for, you know, a six-month return. You're looking at decadal investments.” said Landon Derentz at the Atlantic Council.
