Venezuela Oil Investment Would Pay Off Just After US Shale Peaks

Rusty pipelines. Unchecked spills. Decades of chronic underinvestment, brain drain and mismanagement. Venezuela’s oil industry is in shambles, and restoring it to its former glory would cost an estimated $100 billion—if Big Oil would even want to undertake such a risky repair job. Also, the crude in its vast reserves is viscous and difficult to extract, and it would be slow to reach the market in significant volumes, in some cases taking as long as a decade. That’s too late to offer much in the way of lower prices during the remainder of President Donald Trump’s term.

So ...