In a striking visual moment, former President Donald Trump was seen sporting a cartoon badge of his own likeness during a high-stakes meeting with top US oil executives at the White House. The gathering, focused on securing a colossal $100 billion in private investment to revive Venezuela's oil industry, was momentarily upstaged by the president's unusual accessory.
The 'Happy Trump' Pin and a Push for Venezuelan Oil
The 79-year-old Republican, who also wore his customary American flag pin, was questioned about the new badge by reporters. Trump explained the item was a gift, calling it a "Happy Trump." He quipped, "Considering the fact I'm never happy, I'm never satisfied. I will never be satisfied until we make America great again but we're getting pretty close. Somebody gave it to me, so I put it on."
The meeting's substantive focus was far removed from the lighthearted pin. Trump directly appealed to the assembled leaders of major energy firms, assuring them of "total safety" if they commit to investing in Venezuela. His message was unequivocal: "You're dealing with us directly and not dealing with Venezuela at all," he stated, adding, "We don't want you to deal with Venezuela."
A $100 Billion Pledge for Post-Maduro Venezuela
This push follows the recent capture of former Venezuelan leader Nicolás Maduro. The Trump administration has framed its subsequent actions as a significant economic opportunity for the United States. Trump announced the US is taking over sales of 30 to 50 million barrels of previously sanctioned Venezuelan oil and intends to control worldwide sales indefinitely.
"Our giant oil companies will be spending at least 100 billion dollars of their money, not the government's money," Trump told the executives. "They don't need government money. But they need government protection." This stance underscores a strategy of leveraging private capital under a US security umbrella to rebuild the South American nation's crippled petroleum sector.
The urgency was highlighted just hours before the meeting, as US forces seized their fifth tanker linked to Venezuelan oil in the past month. This action signals a determined effort to fully control the export, refining, and production of Venezuelan petroleum.
Executive Skepticism and Invitations to the Table
The White House extended invitations to executives from 17 companies, including industry giants Chevron, ExxonMobil, and ConocoPhillips. The latter two had assets nationalised under Maduro's predecessor, Hugo Chavez, in 2007.
Despite the presidential assurances, some executives expressed deep reservations. ExxonMobil chief executive Darren Woods called Venezuela "un-investable" under current conditions. He outlined necessary pre-conditions for investment, stating, "Significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections and there has to be change to the hydrocarbon laws in the country."
Other firms invited included Halliburton, Valero, Marathon, Shell, and international traders Trafigura, Eni, and Repsol. In a post on his Truth Social platform ahead of the meeting, Trump framed the discussion around reducing oil prices for American consumers and stemming the flow of drugs and criminals into the United States, linking energy policy directly to domestic economic and security concerns.
