If Guaidó comes to power and privatizes PDVSA, U.S. oil companies — with Chevron and Halliburton leading the pack — stand to make record profits in the world’s most oil-rich nation, as they did in Iraq following the privatization of its national oil industry after U.S. intervention.
“You will like me so much,” President Donald Trump said to attendees at an energy industry conference last year. His claim has rung true thus far, as his administration has made several moves to benefit the industry and consequently reduced its spending on lobbying this year.
The oil and gas industry has spent over $36 million lobbying Congress so far this year, a massive figure that speaks to the fossil fuel industry’s weight in Washington. Among the top spenders so far have been ExxonMobil, Chevron and Koch Industries, which have