Trump Ally Hamm Says US Oil Producers Need Venezuela Guarantees

Shale billionaire Harold Hamm said oil companies need guarantees that their assets won’t someday be seized by Venezuela if they help revive the nation’s crude production.

“There is a lot of geopolitical risk in Venezuela. Exxon had been there twice and been nationalized, ” Hamm said in an interview Thursday with Bloomberg Television. “There have got to be guarantees against that. We have seen other companies burned real bad there.”

Hamm, one of the oil industry’s most outspoken supporters of US President Donald Trump, said Venezuela is a much safer place as a result of ...