Trump’s Venezuela oil revival plan is a $100 bln gamble

Realizing President Donald Trump’s plan for a US-led revival of Venezuela’s beleaguered oil industry could be a years-long and challenging process costing upwards of $100 billion.Years of corruption, underinvestment, fires and thefts have left the nation’s crude infrastructure in tatters. Rebuilding it enough to lift Venezuela’s output back to its peak levels of the 1970s would require companies to invest about $10 billion per year over the next decade, said Francisco Monaldi, director of Latin American energy policy at Rice University’s Baker Institute for Public Policy.For all the latest headlines, follow our Google News channel online or via the app.That’s equivalent to more than a third of what Exxon Mobil — the largest US oil company — has budgeted this year for capital expenditures around the entire globe.Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms.“A faster recovery would require even more investment,” Monaldi said. Venezuela sits