Today, just hours after the U.S. military boarded another Venezuelan oil tanker in the Caribbean Sea,

President Trump hosted a group of top oil executives at the White House and outlined his plan for American companies to exploit Venezuelan resources.

The plan is for them to spend at least $100 billion to rebuild the capacity and the infrastructure necessary.

Venezuela has also agreed that the United States will immediately begin refining and selling up to 50 million

barrels of Venezuela in crude oil, which will continue indefinitely.

The President said the U.S. government would provide total safety and security,

and that he expected the companies would, in return, move quickly to revitalize Venezuela's oil infrastructure.

Currently, Venezuela sits on more oil than any nation on the planet, but produces just

1% of global supply.

To help understand what comes next, we're joined now by Bob McNally, founder and president

of Rapidan Energy Group and a former energy advisor to President George W. Bush.

Welcome to the show.

Thanks so much for joining us.

Thank you, Amna. Great to be here.

So you saw a table there filled with oil executives surrounding the president who seemed to be

cautiously optimistic about their future investments in Venezuela.

From what you're hearing, how keen are big oil companies to plant a flag in Venezuela as the

president wants to see happen?

Well, you use the word cautious, and I think that's what oil company executives have been trying

to get across to the administration in private conversations, and then today, even on camera,

particularly Darren Woods from Exxon, did a really good job of that. But I think there's been

progress in closing this expectations gap

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