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ExxonMobil CEO: "If we look at the legal and commercial constructs—frameworks—in place today in Venezuela, today it’s uninvestable." corporate.exxonmobil.com/news/news-re...

reading between the lines, what they're pretty clearly asking for is a profit guarantee from the US taxpayer (at like 40 bucks a barrel) and I'd bet they get it too

I mean this is kind of reasonable if they are basically being asked to be USG contractor. And I would say that the right policy for O and G is to have a floor and ceiling system that's run via a government purchase and sale program aka what Biden did.

It's also directly against their interest in many ways since the industry does not need more supply on the market or to spend more.