No. of Recommendations: 4
From the net sifter, in response to "Chris Wright Venezuelan oil production up 20-40 percent in 6 to 12 months":
U.S. Energy Secretary Chris Wright stated that, with some cooperation and minor capital deployment, Venezuela's oil production could increase by 20 to 40 percent (or several hundred thousand barrels per day) within the next 6 to 12 months.
Context of the Statement
Current Role: Chris Wright is the 17th United States Secretary of Energy, a position he has held since February 2025, having previously been the CEO of Liberty Energy.
Short-Term Potential: Wright indicated that this short-term boost is possible with readily available spare parts, American technology, and existing infrastructure, particularly involving Chevron's current operations.
Long-Term Investment Needed: He also clarified that to return Venezuelan production to its historical highs (over 3 million barrels per day), it would require "tens of billions of dollars and significant time".
U.S. Government Control: These statements were made in the context of the Trump administration's new plan to control Venezuela's oil sales and deposit the proceeds into U.S.-controlled accounts to exert leverage and drive political changes in the country.
Now, if I took this at face value, I would be looking to add FLS.
But, is this a credible expectation, or a pipe dream, or a diversion?
Considering that the Pirate King has thrown the opposition party, which may well have won the 2024 election, under the bus, and cozied up to the current, repressive, authoritarian, regime, seems more likely the Pirate King has simply appointed himself the new Generalissimo of the existing regime. The regime may be able to keep most people in line, most of the time, with violence. But that would hardly be an inviting environment for investment, which is what the three amigos have been telling His Godliness.
So, we are back to the quick, easy, certain, and suspected actual plan of disrupting oil supplies, to escalate prices.
You guys do remember Trump's threat to punish Iran if they start killing demonstrators, which they have. We realize Trump cares not one whit about demonstrators. He would rather shoot demonstrators against him dead. So, that is another nice sounding excuse, to bomb the daylights out of Kharg Island.
Steve
