Trump Pressuring Oil Execs to Invest $100B in Venezuela, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Monica Ricks. Major U.S. oil executives say they are cautious about reentering Venezuela as President Trump ramps up pressure to spend at least $100 billion to help revive the country's production following Nicolas Maduro's capture. For now, Trump says the Venezuelan government's cooperating.
What pressure is Trump placing on oil executives regarding Venezuela?
We're dealing with them very well. I think they've been very smart in the way they've dealt with us, frankly, because that whole place could have been obliterated with one more strike, and we didn't want to do that.
ExxonMobil CEO Darren Woods says they got a head start this week.
We started from the beginning to put the team together so that if and when it was needed, we could hit the ground almost immediately. So we can hit the ground within the next couple of weeks.
Trump says 30 million barrels of Venezuelan oil is already on its way to the U.S., worth about $4 billion. Meantime, a small delegation from the U.S. is now in Venezuela meeting with officials about reopening the U.S. embassy there. It's unclear who's part of that delegation, but they're said to be working on reestablishing diplomatic ties. Ukraine's President Volodymyr Zelensky says he's discussing a potential free trade agreement with the U.S. now as part of a broader prosperity package aimed at helping Ukraine recover after its war with Russia. Zelensky says he wants to personally discuss specifics with President Trump just in case Russia renews aggressions. He's seeking something more concrete than mere promises.
Tensions are rising now in Minneapolis as the feds continue to shut out Minnesota state authorities in their investigation of Renee Good's death. Both Homeland Security and the Trump administration have said the ICE agent who shot her was acting in self-defense. But Minneapolis Mayor Jacob Fry said today ICE had no business being in the city in the first place.
What did they say when they came in here? The reason that they've stated, driving down crime. They are clearly driving crime up. Our city is safe. Our city is welcoming. They are making it less so. Bad for business, bad for safety, bad for democracy, and bad for this republic. We want them out.
Hennepin County Prosecutor Mary Moriarty is building a parallel case in the meantime and calling on the public to share any shooting evidence with her office. The community, this community, expects to understand what the evidence is and the justification for any decision that might be made. The Minneapolis school system is also offering families the option of remote learning for the next month as the Trump administration ramps up its federal immigration enforcement there. It's said to be sending 2,000 agents to the area. A judge says Luigi Mangione's federal murder trial could start later this year with jury selection in September. and a possible trial in December, depending on whether she allows prosecutors to pursue the death penalty against him.
The judge also has to decide whether to toss evidence against Mangione, collected on the day he's accused of killing a UnitedHealthcare CEO. A hearing on that could happen in the next few weeks. December's jobs report wrapped up a dismal year for the labor market. The economy added just 50,000 jobs last month, less than expected. But the unemployment rate also fell to 4.4 percent. U.S. consumer sentiment up slightly, the preliminary January sentiment index climbing to 54, up from 52.9 in December. Joanne Su is director of surveys of consumers at the University of Michigan and says consumers are feeling a bit better about the economy, but sentiment is still at historic lows.
Overall, they continue to be concerned about the pain of high prices. But at the same time, their inflation expectations seem to be stabilizing right now at much lower levels than we were seeing back in April and May when tariff announcements were peaking. But we're not out of the woods. Consumer consumer views of inflation still exceed what we were seeing at the end of 2024, beginning in 2025.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:01–0:20
2
What pressure is Trump placing on oil executives regarding Venezuela?
0:20–3:55
3
What is the current status of U.S. diplomatic efforts in Venezuela?
3:55–4:45
4
How is Ukraine's President Zelensky engaging with the U.S. for trade agreements?
4:45–5:36
Speakers
6 identifiedMore from Bloomberg News Now
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