WSJ: Trump Hinted About Venezuela Action to Oil Executives

President Donald Trump last month reportedly told a couple of oil executives to "get ready" for big changes in Venezuela.

Trump delivered the vague but tantalizing message roughly a month before U.S. forces captured Venezuelan strongman Nicolas Maduro in a dramatic weekend operation that culminated in strikes in Caracas and Maduro appearing in U.S. court, The Wall Street Journal reported Monday evening.

The Journal reported that Trump did not provide specifics of the raid to the oil executives, nor did he seek industry input on the administration's broader plan to bring major U.S. energy companies into Venezuela to rebuild the country's decayed oil sector with multibillion-dollar investment.

Speaking to reporters aboard Air Force One on Sunday, Trump said he discussed Venezuela with oil companies "before and after" the operation and claimed they "want to go in so badly," describing the country's infrastructure as "rusty" and "rotten."

The story indicates just how central oil is to Trump's high-stakes decision to confront the Maduro regime — an enterprise the administration is framing as both a national security and economic reset for the Western Hemisphere.

At Mar-a-Lago after the operation, Trump argued that restoring Venezuelan production could create jobs, generate wealth, and help stabilize a country that has suffered under socialist misrule.

"We are going to be taking a tremendous amount of wealth out of the ground," Trump said, describing a plan for major U.S. firms to repair "badly broken infrastructure" and "start making money for the country," The Journal reported.

The White House says Energy Secretary Chris Wright and Secretary of State Marco Rubio are leading outreach to energy executives.

Press secretary Karoline Leavitt has said Trump is eager to work with American firms on investments and opportunities as Venezuela transitions away from the Maduro era.

The administration hopes higher output would both weaken the narcoterror pipeline long linked to the regime and help reduce the migration pressure that has pushed millions to flee Venezuela in recent years.

Still, there is some uncertainty within the oil industry, particularly over whether the White House held the extensive pre-operation discussions Trump suggested.

Executives familiar with the matter claimed Exxon Mobil, Chevron, and ConocoPhillips had not held conversations with the administration about Venezuela's leadership change, contradicting Trump's weekend claim that he had spoken with "all" the major U.S. companies.

Trump later told NBC News that companies were aware the U.S. was "thinking about doing something," but said they were not informed of the timing or details of the operation.

The oil prize is significant.

Venezuela claims roughly 300 billion barrels in reserves — potentially the largest on earth — but production has collapsed to about 900,000 barrels per day after years of corruption, underinvestment, sanctions, and infrastructure decay.

Trump allies argue that opening Venezuela to American development would reverse decades of leftist destruction and provide an energy counterweight to hostile regimes and foreign competitors.

But even supporters acknowledge the obstacles.

Analysts expect it would take years and billions of dollars to materially boost output, with investors and executives wary of instability, weak rule of law, and uncertainty about how long U.S. policy will hold.

Chevron, the only major U.S. company still operating in Venezuela, has reportedly been cautious about expanding until political conditions and contract terms are clearer.

Reuters contributed to this report.