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Wright Tells Bloomberg U.S. Oil Companies Can Deliver $100 Billion of Investment in Venezuela Over Ten Years

January 9, 2026 · U.S. Department of Energy · 0:12:45

Embedded from the source channel — never re-uploaded. Watch on YouTube

What happened

Energy Secretary Chris Wright joined Bloomberg’s Balance of Power from the White House North Lawn after President Trump’s meeting with more than a dozen oil executives, in the interview the Department of Energy uploaded. Asked about the outline of $100 billion of investment over ten years, Wright said he believed it could absolutely be achieved, citing Venezuela’s resources and what he described as tremendous interest from companies, several of which he said are already on the ground and will ramp up investment within weeks, as he stated the outlook one week into the transition.

Wright said Chevron, the largest oil producer in Venezuela, could grow its production by 50 percent in the next 18 to 24 months through licensing moves on projects it has already lined up, as he stated the projection. On security guarantees, he said the details were not yet determined a week in, that U.S. military operations on the ground were not in the plans, and that the plan relies on the naval blockade of oil shipments, partnership with Venezuela’s interim authorities, and incentives, as he described the arrangement. He also said no U.S. government money is needed to incentivize companies, which he said will invest to make money for shareholders, help the United States and improve conditions for Venezuelans, as he framed the motives.

Wright confirmed he expects to travel to Venezuela himself before too long, said only a few U.S. officials are dealing with the interim authorities at this stage, and said he had not personally spoken with acting president Delcy Rodriguez, though a State Department colleague had, as he described the state of communications.

Why it matters

The interview is the Energy Secretary’s first detailed account of the Venezuela oil opening — a $100 billion decade target, a Chevron-led near term, and an explicit statement that ground troops and U.S. incentive money are not part of the plan as he described it.

Scoreboard watch

Scoreboard watch: Wright’s January 9, 2026 statements that $100 billion of oil investment in Venezuela over ten years is achievable and that Chevron could grow Venezuelan production 50 percent within 18 to 24 months — dated, checkable claims flagged for the scoreboard editor; no verdict is entered here.

Sources: U.S. Department of Energy, “Secretary Wright Joins Bloomberg’s Joe Mathieu - January 9, 2026”, 2026-01-09 (official upload, embedded above; published 2026-01-09). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.