|
The share prices of U.S. oil companies surged following the Trump administration's attack on Venezuela and abduction of its president, Nicolás Maduro. In public statements, Trump has been clear about his desire to reassert U.S. corporate control over Venezuela's nationalized oil industry. Now with Trump's show of force over Venezuela's political sovereignty, many investors see the potential for a similar overpowering of the socialist country's economic independence. However, notes financial reporter David Uberti, it won't be so easy for Wall Street to make a profit. In addition to upgrading Venezuela's "decrepit" oil-producing infrastructure, "they have to push for more appetite for oil around the world."
|
RELATED ARTICLES | | |
|
Ventures launched by the Trump family since Donald Trump's reelection have generated at least $4 billion in proceeds and paper wealth for the Trump family. With investments across sectors like real estate, hospitality, media, cryptocurrency and more, the Trumps are "increasingly integrating their business empire" into the wider U.S. economy, says David Uberti, who has been reporting on the family's self-enrichment for The Wall Street Journal. The coupling of Trump's economic and political influence is raising major questions about conflicts of interest. "You have all of these different business interests in different areas in which the government regulates," and this "proximity to power may help along some of these deals and the valuations at which they're made."
We look at the Trumps' cryptocurrency venture World Liberty Financial and the Trump Organization's planned $6 billion merger with a firm hoping to build a nuclear fusion plant to power AI data centers with Uberti, who says such "very speculative, highly risky corners of financial markets" are key to the family's investment strategy.
|
|
U.S. forces attacked Venezuela and abducted Venezuelan President Nicolás Maduro and his wife in a Saturday night raid. About 80 people were reportedly killed, including 32 Cubans. Democracy Now! speaks with Andreína Chávez, a Venezuelan reporter based in Caracas, who calls the strikes an "imperialist attack." Trump also said the U.S. would take the oil from Venezuela, which has the world's largest proven reserves.
|
|
