Trump's "Let's invest in the Venezuelan oil sector" is his new "let's bring back coal" from the campaign trail.
We are in the process of replacing every oil guzzling vehicle with an electric car. In Norway 32 percent of cars were already electric in 2024. Even in China, 11 percent of their cars have already been converted.
When this conversion is complete, the use of oil will have declined by 70 percent, and oil prices will collapse.
No investors will invest in Trump's fantasy future.
Don't forget that in order to accommodate EV, an important investment in infrastructures is needed and they are also more expensive. Those are some of the main reasons why they are not more popular. Countries with high debt can't go faster. In Europe with the need to increase our military investment in order to defend our strategic autonomy, we'll have to change our priorities. And the 3rd world just lacks the funds to make such infrastructure investments.
So, no need to call American companies to Venezuela, since they are already there ( #Chevron ).
Then, in spite of the increase on EV sales, combustion cars remain a majority of car sales worldwide (as far as 2023).
https://ourworldindata.org/data-insights/global-sales-of-combustion-engine-cars-have-peaked
@randahl
Don't forget Chevron never left:
"As pressure mounts on #Venezuela the target of a military campaign and naval blockade orchestrated by the US administration, one player is thriving. The American oil giant #chevron present in the country since 1923, continues to operate relatively smoothly. [...] Its success lies in remaining a key player in the Venezuelan economy, and its main foreign investor, despite the escalating tensions between Washington and Caracas."
https://www.lemonde.fr/economie/article/2026/01/03/le-petrolier-americain-chevron-continue-a-operer-au-venezuela-malgre-le-blocus-naval-impose-par-les-etats-unis_6660418_3234.html
@randahl yes, long term you are right. But Trump only has to get richer and richer the rest of his remaining life...
@JeroenBaten Trump does not have an oil company. He needs actual oil companies to back his Venezuelan project. Actual companies with sane people — people who read books and write business plans and report to a board of skilled directors.
@randahl
trump probably invades norway next, that oil rich nation.
what is actually scary, this is probably not a joke when time goes by.
@zetabeta I can assure you, an invasion of Norway is not on the table.
The three reasons Greenland is interesting for the Trump regime is: Proximity to the United States, low population count, and no military which can defend the country.
Norway is far away and is connected by land to the EU countries, it has 100 times more people, and a significant high tech military.
I am aware that Trump is crazy, but bullies prefer the easy targets.
I sadly read yesterday that the UK has about the same percentage of diesel vehicles as Norway has EVs…we only have about 3% EVs and 6% hybrids. Our rightwing media and think tanks which drive this lack of uptake is funded by oil companies via a spidery web of shell companies.
@randahl
They're heating w oil in the USA, CDN and many European countries, I believe. It will not get out of fashion that quickly, I believe.
Sadly, I might add.
