Trump Admits the Real Reason for His Surprise Attack on Venezuela

Just hours after President Donald Trump bombed Venezuela and abducted its leader, Nicolás Maduro, he began talking about the Latin American country’s oil industry.

Venezuela has the largest proven oil reserves on the planet, with 303 billion barrels worth of crude, or about a fifth of global reserves, according to the U.S. Energy Information Administration. And that fact has clearly been at the top of Trump’s mind.

Appearing in a Fox News interview Saturday morning, Trump was asked what he sees for the “future of Venezuela’s oil industry.”

“Well, I see that we’re going to be very strongly involved in it, that’s all. I mean, what can I say? We have the greatest oil companies in the world, the biggest, the greatest, and we’re going to be very much involved in it.”

Trump on Venezuela’s oil industry: “We are going to be strongly involved in it.” pic.twitter.com/blwdc78DSp

— The Bulwark (@BulwarkOnline) January 3, 2026

This wasn’t the first time that Trump has admitted his war with Venezuela is at least partly motivated by oil. Earlier last month, the U.S. military seized two Venezuelan oil tankers. Asked what would happen to the oil, Trump replied, “we’re going to keep it,” then added: “Maybe we will sell it, maybe we will keep it. Maybe we’ll use it in the Strategic Reserves. We’re keeping the ships also.”