WASHINGTON, Jan 9 (KUNA) -- US President Donald J. Trump met with executives of major US oil and gas companies at the White House on Friday to reassure them about the safety and security of their investments in Venezuela.
The discussions focused on "how these great American companies can help rapidly rebuild Venezuela's dilapidated oil industry and bring millions of barrels of oil production to benefit the United States, the people of Venezuela and the entire world." "So that's money that goes to the United States. Some will go to Venezuela. And some will go to the oil companies, but not that because that's already been extracted. So you're not getting any of that. But when you start extracting, you'll get," he said at the beginning of the meeting.
"Among the biggest in the world. Some people say it is the biggest in the world. And we're going to be working with Venezuela. "We're going to be making the decision as to which oil companies are going to go in, that we're going to allow to go in. "We're going to cut a deal with the companies. We'll probably do that today or very shortly thereafter with Chris and Doug.
"And we're dealing with the country, so we're -- we're empowered to make that deal. "And you have total safety, total security. One of the reasons you couldn't go in is you had no guarantees, you had no security, but now you have total security. It's a whole different Venezuela. And Venezuela is going to be very successful," he stressed.
"And the people of the United States are going to be big beneficiaries because we're going to be extracting, you know, numbers of -- in terms of oil like, you know, a few people have ever seen, actually. "So, uh, you're dealing with us directly. You're not dealing with Venezuela at all. We don't want you to deal with Venezuela.
"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 in the United States together, we have 55 percent of the oil in the world," President Trump went on. "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 USD 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 USD 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, grade oil.
"It's fantastic for certain things like asphalt, roads, the 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 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," he added. (end) rsr.gb