Venezuela used to be one of the biggest oil exporters on earth. If it rebuilds, it could drop oil prices 5% to 10%. But it will take years.
Will Donald Trump’s drive-by liberation of Venezuela give us $2 gas?
Venezuela used to be one of the biggest oil exporters on earth. If it rebuilds, it could drop oil prices 5% to 10%.
But it will take years. pic.twitter.com/dCcqXEOON4
— Peter St Onge, Ph.D. (@profstonge) January 5, 2026
- I truly hope that our President asks for the help of Javier Milei, Nayib Bikele and Jose Antonio Kast to assist the new Venezuelan government develop into a strong constitutional republic. A strong and free Venezuela is in everyone’s interest. I also hope that our gulf coast refineries will be working at 110% capacity rendering the Orinoco sludge into gasoline. BVT
- Totally agree, and since it’s heavy crude, which is lacking in the US Gulf and the US Gulf is the only one who can process the heavy crude, US can help Venezuela get out of its doldrums economically, but in addition increases supply of key products that come from the heavy crude which is needed in the US. Net result is lower prices for many things, plastics etc. – Paul TD
- I don’t think it will take years… I have friends in the some of the biggest oil companies on earth… they are already getting material ordered to re-vamp production. They already had the specs for the orders, the orders started being placed the day after Maduro was arrested. This tells me, that the MOP’s (major oil producers) got the nod from the admin many months ago… So I imagine the conversation about what they needed to boost production started around 6 months ago… sometime last summer… But that expedites the timeline to around 12 months maybe sooner. There’s a few refineries that CAN produce this type of oil… but not many. That will be the real bottle neck. – William Churchill
- If I were on the board of directors of an oil company, I’m not sure how much faith I’d have in the U.S. government protecting my assets and people. The fact that every other administration declares my industry and my company an enemy of the people isn’t likely to inspire confidence. Especially with a decades long development program on the table. – CD
- One question: Venezuela has always been part of OPEC. Will the US keep it there or is Venezuela de-facto out? I rather as an American and former Venezuelan that the country be out of OPEC, is nothing but a bunch of dictatorships deciding what to do with oil. – MR3D












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