President Trump’s plan for the U.S. to own majority control of Venezuelan oilfields harkens back to a century-old era of colonialism and backroom dealmaking with Venezuelan oilmen and politicians, energy and geopolitical analysts said.
While a revitalization of Venezuela’s dilapidated oil industry may be heading in the right direction, the process will require huge infusions of new investment. It will occur on a timeline that extends far beyond the administrations of Trump and Venezuelan interim President Delcy Rodriguez—meaning any success will take years to come to fruition.
