{"id":67479,"date":"2026-01-13T11:36:19","date_gmt":"2026-01-13T19:36:19","guid":{"rendered":"https:\/\/energi.media\/?p=67479"},"modified":"2026-01-13T11:36:19","modified_gmt":"2026-01-13T19:36:19","slug":"u-s-fossil-donors-pissed-at-trump-mock-him-behind-his-back-as-venezuela-plan-takes-shape","status":"publish","type":"post","link":"https:\/\/energi.media\/news\/u-s-fossil-donors-pissed-at-trump-mock-him-behind-his-back-as-venezuela-plan-takes-shape\/","title":{"rendered":"U.S. Fossil Donors \u2018Pissed\u2019 at Trump, Mock Him Behind His Back, as Venezuela Plan Takes Shape"},"content":{"rendered":"<p><em>This article was published by <a href=\"https:\/\/www.theenergymix.com\/u-s-fossil-donors-pissed-at-trump-mock-him-behind-his-back-as-venezuela-plan-takes-shape\/\" target=\"_blank\" rel=\"noopener\">The Energy Mix<\/a> on Jan. 12, 2026.<\/em><\/p>\n<p>It took Donald Trump less than a week after his bombing raid in Venezuela to raise the ire of one major group of fossil industry donors, while threatening to freeze his country\u2019s biggest publicly-traded oil company out of the production boom he thinks he can set in motion.<\/p>\n<p>In the 10 days since the raid, Trump has\u00a0<a href=\"https:\/\/energymixweekender.substack.com\/p\/donald-trump-vs-the-world\">claimed<\/a>\u00a0that Venezuela \u201cwill be turning over\u201d 30 to 50 million barrels of oil to the U.S., that he will personally control the revenue from selling that oil, and that the U.S. fossil industry will pile in to Venezuela to restore its decrepit, poorly-maintained production infrastructure.<\/p>\n<p>But that isn\u2019t sitting well with fracking executives in Texas\u2014many of whom \u201cbankrolled the president\u2019s return to office\u201d\u2014who expect any increase in production to push global oil prices below the threshold where they can continue to operate, the Financial Times\u00a0<a href=\"https:\/\/www.ft.com\/content\/f498bdcb-c5df-4b10-a390-7b61adb140e4\">reports<\/a>.<\/p>\n<p>\u201cProblems in Texas\u2019s oil industry are mounting, as cheaper oil forces producers to idle rigs needed to keep production ticking higher,\u201d the Times explains. So \u201cTrump\u2019s drive to open up Venezuela\u2019s oil riches, potentially subsidizing investors, has further strained relations with oil executives in Texas, who have been angered by his dogged pursuit of ever-lower crude prices.\u201d<\/p>\n<p>In the 2024 general election in the U.S., the fossil fuel industry spent $219 million to elect the country\u2019s next government, Yale Climate Connections\u00a0<a href=\"https:\/\/www.theenergymix.com\/oil-companies-investors-talk-down-trumps-drill-baby-drill-as-prices-stay-low-exploration-budgets-shrink\/\">reported<\/a>\u00a0afterwards, most of it on Republican campaigns. That was after Trump invited about 20 oil and gas executives to his Mar-a-Lago estate in April to present what one independent journalist\u00a0<a href=\"https:\/\/www.theenergymix.com\/oil-and-gas-lobby-donates-lavishly-to-trump-hoping-to-dismantle-biden-climate-rules\/\">called<\/a>\u00a0a \u201cbreathtakingly corrupt proposal: If they raised a billion dollars to help him retake the White House, he would roll back any policy they didn\u2019t like when he took office.\u201d<\/p>\n<p>Now some of those donors sound like they\u2019re questioning the return on their investment.<\/p>\n<p>\u201cWe\u2019re talking about this administration screwing us over again,\u201d one exec told the Times. \u201cIf the U.S. government starts providing guarantees to oil companies to produce or grow oil production in Venezuela I\u2019m going to be\u2026 pissed.\u201d<\/p>\n<p>Some industry sources are angrily calling it a \u201cbetrayal\u201d after Trump \u201cflew to Texas multiple times in 2024 to tap deep-pocketed oil barons for cash,\u201d the news story adds. Their problem is that \u201conly the biggest [fossil] energy groups, such as ExxonMobil, Chevron, \u00a0and ConocoPhillips, have access to the tens of billions of dollars in capital, teams of lawyers, and security protection needed for a foray into Venezuelan oil. For smaller U.S. operators, a revitalized Venezuelan industry\u2014if Trump can pull it off\u2014means worsening the market glut,\u201d with prices already below the US$60 per barrel that shale producers need to turn a profit.<\/p>\n<p>\u201cTo me, the signal from the administration is: we\u2019d rather spend our American money on propping up a Venezuelan oil business than supporting our current independent businesses,\u201d said Trump donor Kirk Edwards, CEO of Odessa, Texas-based Latigo Petroleum.<\/p>\n<p>\u201cI think it\u2019s an appropriate reaction by U.S. shale to be miffed,\u201d added Pickering Energy Partners founder Dan Pickering. \u201cNot just because Venezuelan production might go up but because the U.S. government, in theory, is going to subsidize that.\u201d<\/p>\n<p>On the surface, colossal fossil ExxonMobil may be miffed, as well, after Trump took umbrage at CEO Darren Woods\u2019\u00a0<a href=\"https:\/\/www.ft.com\/content\/29866a31-2a18-4463-9d61-c237feb5ab54\">assessment<\/a> that his production plan would be \u201cuninvestable\u201d. After meeting with fossil CEOs Friday, Trump said Woods\u2019 bad attitude might disqualify the company from any new business in Venezuela.<\/p>\n<p>\u201cI didn\u2019t like Exxon\u2019s response,\u201d he\u00a0<a href=\"https:\/\/www.ft.com\/content\/5a97cb9f-548d-4480-a3c1-713beb61b8d9\">told reporters<\/a>. \u201cI\u2019d probably be inclined to keep Exxon out. I didn\u2019t like their response. They\u2019re playing too cute.\u201d<\/p>\n<p>Woods maintained that Venezuela would have to make \u201csignificant changes\u201d before Exxon would consider investing there. \u201cWe\u2019ve had our assets seized there twice, and so you can imagine to re-enter a third time would require some pretty significant changes from what we\u2019ve historically seen here and what is currently the state,\u201d he said. \u201cIf we look at the legal and commercial constructs, frameworks in place today in Venezuela, today it\u2019s uninvestable.\u201d<\/p>\n<p>He also told Trump he was \u201cconfident\u201d those changes \u201ccan be put in place,\u201d the Times writes.<\/p>\n<p>But Venezuela\u2019s oilfields may not be the prize Exxon is after\u2014or even the main motivation behind Trump\u2019s takeover. Drilled Executive Editor Amy Westervelt\u00a0<a href=\"https:\/\/drilled.media\/news\/guyana-venezuela\">recaps<\/a>\u00a0Exxon\u2019s extensive investments in neighbouring Guyana and recalls Venezuela\u2019s escalating threats against those operations before the U.S. removed President Nicol\u00e1s Maduro from office.<\/p>\n<p>Most of the other oil execs who met at the White House Friday \u201cdelivered optimistic messages to Trump about the prospect of reviving Venezuela\u2019s oil sector,\u201d the Times says. But at least one U.S. news site is\u00a0<a href=\"https:\/\/www.rawstory.com\/trump-oil-2674863254\/\">reporting<\/a>\u00a0that industry insiders \u201care mocking the president behind his back, predicting companies will string him along to get on his \u2018good side\u2019 and never follow through\u201d on their promises to invest.<\/p>\n<p>\u201cThe big oil companies who move slowly, who have corporate boards are not interested,\u201d U.S. Treasury Secretary Scott Bessent told Politico, in a sequence republished by RawStory. \u201cI can tell you that independent oil companies and individuals, wildcatters, [our] phones are ringing off the hook. They want to get to Venezuela yesterday.\u201d<\/p>\n<p>But that only shows that \u201cthe most enthusiastic are among the least prepared and least sophisticated,\u201d said one industry official. \u201cAnyone with a degree of international sophistication is taking a more measured approach.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>This article was published by The Energy Mix on Jan. 12, 2026. It took Donald Trump less than a week after his bombing raid in Venezuela to raise the ire of one major group of <a class=\"mh-excerpt-more\" href=\"https:\/\/energi.media\/news\/u-s-fossil-donors-pissed-at-trump-mock-him-behind-his-back-as-venezuela-plan-takes-shape\/\" title=\"U.S. Fossil Donors \u2018Pissed\u2019 at Trump, Mock Him Behind His Back, as Venezuela Plan Takes Shape\">[Read more]<\/a><\/p>\n<\/div>","protected":false},"author":6,"featured_media":67480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"give_campaign_id":0,"footnotes":""},"categories":[1],"tags":[322,14,67,584,890,3035],"class_list":{"0":"post-67479","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-business","9":"tag-featured","10":"tag-oil","11":"tag-trump","12":"tag-usa","13":"tag-venezuela-takeover"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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