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this post was submitted on 09 Oct 2026
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Global News
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What happened to all that wonderful Venezuelan oil Trump was stealing?
venzeulan has heavy crude oil, which is very difficult to process, and apparently only chevron has the ability to do so, but its quite limited. so its almost practically useless. venzeulan president capture was all a distravtion anyways.
US refineries on the Gulf coast were designed and built specifically for heavy/sour crude, because at the time they were built Venezuela was the largest crude supplier to that coast. They now have to transport heavy crude down from Canadian oil sands because they aren't set up for the light/sweet crude that has been found closer by more recently.
Venezuela isn't outputting much crude because their government is so corrupt no international company trusts them with capital investments (except Chevron a little bit, as you mentioned), and they have run their domestic oil companies into the ground. If they could get their shit together, the US Gulf refineries would love to have more of their crude.
Venezuela has a lot of oil reserves, but not a lot of oil extraction equipment. Building those will take years.
That’s his “sellin oil”.
Give it 2 weeks