Venezuela’s oil industry has flailed under government control – Mexico and Brazil have had more success with nationalizing
- Written by Skip York, Nonresident Fellow in Energy and Global Oil, Baker Institute for Public Policy, Rice University
The Venezuelan state-run oil company is contending with aging infrastructure.Michael Robinson Chavez/The Washington Post via Getty ImagesU.S. President Donald Trump has ignited a contentious debate over who has the right to control Venezuela’s vast oil reserves.
Speaking on Jan. 3, 2026, after the U.S. military seized Venezuelan President...









