Former President Trump is focusing on revoking a license that enabled Chevron to expand oil production in Venezuela, impacting both the oil company and the Venezuelan government. This policy change targets the concessions made under the Biden administration, with a renewal deadline set for March 1.
Former President Donald Trump announced that he intends to revoke a license granted by the Biden administration to Chevron, which permitted the expansion of oil production in Venezuela. His decision poses risks not only to the Venezuelan government but also to Chevron’s operations in the nation, which depend heavily on such authorizations. Specifically, Trump aims to reverse a policy enacted on November 26, 2022, which allowed for increased oil extraction and exportation from Venezuela, a move he believes is critical considering ongoing issues related to crime and illegal immigration.
In summary, President Trump plans to rescind the oil license that benefits Chevron and the Venezuelan government, citing concerns over criminal activities and immigration. The policies he seeks to change, initiated by the Biden administration, are set to be revisited as the renewal date approaches on March 1. This decision reflects ongoing tensions surrounding Venezuela’s governance and U.S. foreign policy.
Original Source: www.nytimes.com
