Weird: American Oil Companies Are Rushing Into Venezuela

By William Teach May 12, 2026 – 10:30 am

Remember when we were told that wouldn’t happen? That no one was interested?
Why some U.S. oil companies aren’t interested in returning to Venezuela
Venezuela oil industry too shaky for U.S. companies to rush to re-enter, experts say
US oil companies will be slow to answer Trump’s call to tap into Venezuela, experts say
How’s that working out?
U.S. oil rush into Venezuela tests Trump’s democracy promises
When the White House’s top energy adviser landed in Venezuela late last month, he was ushered into a terminal and asked to sign a guest book. On the wall hung a portrait of the nation’s former dictator, Nicolás Maduro, who drove most U.S. oil companies out of the country until he was deposed by President Donald Trump in a military operation in January.
Under the Maduro portrait’s watchful eyes, National Energy Dominance Council Executive Director Jarrod Agen signed the book with Trump’s energy catchphrase: “Drill Baby Drill.”
The experience, which Agen recounted on this week’s episode of the POLITICO Energy podcast days after returning from Caracas, encapsulates how much has shifted in the South American nation over the last four months — and the uncertainty that remains.
Agen and other Trump administration officials have shuttled back and forth from Caracas to help facilitate deals for U.S. energy and mining companies to invest in Venezuela, and in doing so have forged closer ties with interim President Delcy Rodríguez and her administration, largely hold-overs from Maduro’s regime. That engagement has picked up in recent weeks, especially as Trump pushes Venezuelan crude as an alternative to the supplies disrupted because of the U.S.-Israel war in Iran.
So, wait, they are now rushing to Venezuela? I thought that wouldn’t happen according to Experts! and the Credentialed Media? They were wrong? Or just lying because Orange Man Bad? Who would have seen that coming?
But the coziness with Rodríguez has raised anxiety among some potential investors and Venezuelans abroad that the Trump administration has put off its stated goal of pushing the country toward democratic elections. Rodríguez told reporters during Agen’s visit that elections would be held “some time.”
Good grief, chill. Maduro was captured on January 3rd, 2026. It’s only been a few months. Marco Rubio has allowed Rodriguez to step up to president for continuity purposes, and you know he and his folks are watching and pulling strings behind the scenes. Things need to settle down and normalize, the economy needs to start humming before elections. This is peak TDS, where the Politico writers see the podcast with Agen and say “huh, how can we do Orange Man Bad?”
Agen had lunch with Rodríguez, who he said committed to moving at “‘Trump speed’” to get oil deals finalized and investment flowing in. But he said he didn’t raise the prospect of a democratic transition with her.
“We’ve indicated all along that ultimately there would have to be elections, and I think everyone understands that,” Agen said. “We didn’t get into that in my conversations because it was really more about the energy deals and the progress there and what are some of the more immediate needs.”
The energy is his job, not the elections. But, it’s funny, none of the Credentialed Media outlets are complaining, or have complained about Volodymyr Zelenskyy and the elites in their legislature cancelling elections. They mostly looked at defending the cancellation. With the declaration of martial law they do not need to have elections, per Ukraine law. They still could, though. And no one in the media is pushing for them. Weird.

Weird: American Oil Companies Are Rushing Into Venezuela » Pirate's Cove