Can the US really rebuild Venezuela’s oil industry?

Can the US really rebuild Venezuela’s oil industry?

Author: BBC News January 10, 2026 Duration: 26:28

In the fallout of Nicolas Maduro’s dramatic capture from Venezuela to the US, Donald Trump has made no secret of his desire to obtain Venezuelan oil, which he says is integral for keeping prices low in America.

He’s also pledged to have the US oil industry operating in Venezuela within 18 months and that there would be huge private-sector investments into the country. Reports suggest representatives from major US petroleum companies are due to meet the Trump administration this week.

Not everyone is convinced by the president’s plans. Some analysts told the BBC it could take tens of billions of dollars - and potentially a decade - to restore Venezuela's former output, which has been in decline since the early 2000s.

In this episode, Justin sits down with US energy expert Robert Bryce to explore the unique challenges of reforming Venezuela’s oil industry and the mistakes that the president will have to avoid to prevent the collapse in Iraq’s oil industry following the US invasion in 2003. What reassurances would private firms need to operate, and what would it take to reverse the problems that have plagued Venezuela’s oil industry since the presidency of Hugo Chavez?


Trying to make sense of American politics can feel like navigating a maze. Americast, from BBC News, cuts through the noise with a perspective that’s both grounded and far-reaching. You’ll hear from seasoned correspondents like the BBC’s North America editor, Sarah Smith, and presenter Justin Webb, who bring decades of experience to the conversation. This isn’t just a recap of headlines; it’s about understanding the forces shaping the United States, from the granular details observed on the ground to the wider historical and social currents at play. The team delves into everything from election campaigns and policy debates to the complex role of disinformation and social media, offering clarity on the stories that define the nation week to week. Relying on the BBC’s global network of journalists, this podcast provides analysis that connects local events to their international significance. For anyone looking to move beyond the soundbites and gain a more nuanced view of American government and society, tuning into this weekly discussion offers a valuable and authoritative resource.
Author: Language: English Episodes: 100

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