President Trump declared a national emergency to shield Venezuelan oil revenue held by the U.S. government from seizure by private creditors, framing it as critical to U.S. national security and regional stability.
The big picture: Control of Venezuelan oil — some $2.5 billion worth — is now a cornerstone of the White House's strategy in the Western Hemisphere and an opening for U.S. companies in the wake of Nicolás Maduro's capture.
U.S. oil giants signaled interest in Venezuela on Friday but stopped well short of committing to massive and rapid new investments there during a meeting with President Trump.
Why it matters: The White House envisions a key role for U.S. companies in reviving output from Venezuela following the toppling of President Nicolás Maduro.
