Trump's Excited, But Big Oil Isn't Too Keen On Venezuela: Exxon CEO Darren Woods Sets Clear Terms

The plan is for them to spend, meaning our giant oil companies will be spending at least $100 billion of their money, not the government's money. They don't need government money, but they need government protection and need government security. That when they spend all this money, it's going to be there. So, they get their money back and make a very nice return. The plan is for them to spend at least $100 billion to rebuild the capacity and the infrastructure necessary.

American companies will have the opportunity to rebuild Venezuela's rotting energy infrastructure and eventually increase oil production to levels never ever seen before. When you add Venezuela and the United States together, we have 55% of the oil in the world. The United States is number one. We have them drilling. Drill baby drill was my campaign. And Doug and Chris. I think we're setting records on drilling right now and taking oil without Venezuela. That's how we're getting the oil prices down. The plan is for them to spend, meaning our giant oil companies will be spending at least $100 billion of their money, not the government's money. They don't need government money, but they need government protection and need government security that when they spend all this money, it's going to be there. So, they get their money back and make a very nice return. The plan is for them to spend at least $100 billion to rebuild the capacity and the infrastructure necessary. Venezuela has also agreed that the United States will immediately begin refining and selling up to 50 million barrels of Venezuelan crude oil which will continue indefinitely. We're all set to do it. We have the refining capacity was actually based very much on the Venezuelan oil which is a heavy oil, very good oil, great oil. It's fantastic for certain things like asphalt roads, best there is in the world for asphalt roads and other things. All of the companies here today are going to be treasured partners in bringing the nation of Venezuela back to life, restoring its economy, and generating great wealth for their companies and for their people and also great wealth for the American people and tremendous wealth for the companies that are going in. And if you don't want to go in, just let me know because I got 25 people that aren't here today that are willing to take your place.