Trump Considers Letting Chevron Keep Pumping Venezuelan Oil
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Why is Chevron seeking to continue operations in Venezuela?
Chevron makes headway in lobbying the White House to keep pumping oil in Venezuela. Plus, Attorney General Pam Bondi pledges federal prosecutions against vandals targeting Tesla, calling attacks on vehicles and company property domestic terrorism. And we'll look at how efforts to crack down on corporate DEI in the U.S. are rippling across the Atlantic.
Whereas Europeans previously dictated what U.S. companies had to follow in terms of policies in order to sell goods into Europe, that's being reversed now to a degree.
It's Thursday, March 20th. I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today. We are exclusively reporting that President Trump is considering a plan to extend Chevron's license to pump oil in Venezuela and make it harder for other countries to get a foothold there.
How is the Trump administration influencing international oil markets?
Trump expressed openness to reversing his recent decision to order the company to wind down its Venezuela operation next month during a Wednesday meeting at the White House with Chevron CEO Mike Wirth and other oil industry executives, according to people familiar with the discussion. Journal correspondent Jenny Strasberg says that comes after months of counter-arguments from hardline Venezuela critics like Secretary of State Marco Rubio and National Security Advisor Mike Waltz.
What we see here is Chevron making some headway in its argument that if the US were to impose tariffs or other financial penalties on countries buying oil from Venezuela, not the US, but China, etc., then that could fortify Chevron and allow that oil to continue flowing to the US, which of course is very much a part of this administration's talking points to keep oil flowing, keep America supplied with the energy it needs.
What are the implications of the Greenpeace lawsuit over the Dakota Access Pipeline?
The White House didn't respond to requests for comment. Greenpeace has been ordered to pay more than $600 million to Energy Transfer, the company behind the Dakota Access Pipeline. The lawsuit centered around months-long protests back in 2016 in which Greenpeace, Native American tribal groups, and other activists camped out to block construction of the pipeline that transfers crude oil from North Dakota to Illinois.
What changes are proposed for the U.S. Agency for International Development?
Energy Transfer alleged that the environmental activist group, as well as its international and funding entities, trespassed and caused damages on its property and published false statements about the pipeline. Greenpeace has denied the allegations, saying it would appeal the judgment to the North Dakota Supreme Court. The U.S. Agency for International Development could soon get a major overhaul. According to a memo viewed by the journal, the agency, which had been dismantled by Elon Musk's Department of Government Efficiency, would be renamed the U.S. Agency for International Humanitarian Assistance and fall under the control of the State Department, with a mandate to help enhance national security and counter adversaries like China.
The memo stated that expensive programs that didn't provide strong returns to taxpayers should be scrapped and that those that remain shouldn't be solely philanthropic, but should advance American security, strategic and commercial interests. It's unclear whether a federal judge's ruling this week that Doge's dismantling of U.S. aid was unconstitutional would impact the new plans.
Why is Tesla being targeted as domestic terrorism?
A State Department spokesperson said that, quote, any changes to the structure of U.S. aid will be done in consultation with Congress and will be subject to congressional notification. And the Trump administration is ratcheting up its campaign to label attacks against Tesla property as domestic terrorism. Speaking to Fox News last night, Attorney General Pam Bondi described the string of vandalism and arson attacks on Tesla dealerships and charging stations as politically motivated against Elon Musk because of his work to cut government jobs and spending.
We believe these are organized. These are not individuals out there throughout the country doing this on their own. They're targeting Tesla owners. They're targeting Tesla dealerships. They're targeting Elon Musk, who is out there trying to save our country, and it will not be tolerated. We are coming after you. We will find you.
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Chapters
6 chapters
1
Why is Chevron seeking to continue operations in Venezuela?
0:03–1:01
2
How is the Trump administration influencing international oil markets?
1:01–2:00
3
What are the implications of the Greenpeace lawsuit over the Dakota Access Pipeline?
2:00–2:26
4
What changes are proposed for the U.S. Agency for International Development?
2:26–3:35
5
Why is Tesla being targeted as domestic terrorism?
3:35–4:54
6
How is the Trump administration's DEI policy affecting global businesses?
4:54–10:39
Speakers
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