Tag Archives: Newsweek

My Newsweek| I counter Exxon CEO Darren Wood’s WH drama that “Venezuela is uninvestable.” And more commentary.

Oil Bosses Hit Trump With Venezuela Setback: ‘Uninvestable’

Image from 2002 shows an oil refinery in Maracaibo, Vzla. Photo ANDREW ALVAREZ

Published Jan 10, 2026 – By, Brendan Cole, Senior News Reporter

Developing Venezuela’s oil industry  following the removal of its leader, Nicolas Maduro,  would require major legal and commercial changes, Exxon CEO Darren Woods has told President Donald Trump

Woods gave a downbeat assessment of the viability of restoring oil production in the South American country believed to hold the world’s largest reserves, telling Trump that at the moment, the country’s industry was “uninvestable.”

Energy industry analyst, Thomas O’Donnell, told Newsweek on Saturday that one approach would be for companies to work on small projects to kickstart production before targeting the oil fields that require heavy investment.   

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Oil Bosses Hit Trump With Venezuela Setback: ‘Uninvestable’

Image from 2002 shows an oil refinery in Maracaibo, Vzla. Photo ANDREW ALVAREZ

Published Jan 10, 2026 – By, Brendan Cole, Senior News Reporter

Developing Venezuela’s oil industry  following the removal of its leader, Nicolas Maduro,  would require major legal and commercial changes, Exxon CEO Darren Woods has told President Donald Trump

Woods gave a downbeat assessment of the viability of restoring oil production in the South American country believed to hold the world’s largest reserves, telling Trump that at the moment, the country’s industry was “uninvestable.”

Energy industry analyst, Thomas O’Donnell, told Newsweek on Saturday that one approach would be for companies to work on small projects to kickstart production before targeting the oil fields that require heavy investment.   

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My analysis in Newsweek: How Trump can cripple Russian oil, if he decides to

Wednesday, I was quoted repeatedly in Newsweek (USA) by Brendan Cole (London) 23 April: “Russian Economy Dealt Blow With Slumping Oil Prices,” And, Below: a Monday audio of my related analysis.

Above: Audio of my comments to (various) press on 22 April 25, on the impact of falling oil prices on Russia’s capacity to war on Ukraine. Also, a scenario I have discussed for over a year, first privately and then publicly, of how the USA could shut down the great majority of Russia’s seaborne oil exports, to devastating consequences for its oil sector and capacity to continue the war. In the present market situation of oversupply and anticipated continued weak demand, this could be done in a way that does not spike global oil prices.

This will only be done if Trump decides he needs to use harsh coercion to force Putin into an acceptable peace deal with Ukraine, AND if Trump were willing to impose lasting harm on the older Russian oil fields.

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My Newsweek: 1) Ukraine could hit Russian oil exports-but hasn’t. 2) Gen. Hodges is right–USA stand regrettable.

Credit: Kyiv Post 13mar24

“O’Donnell told Newsweek that that if Ukrainians really wanted to hit oil exports, they would go after Novorossiysk Fuel Oil Terminal in the [eastern] Black Sea and Primorsk Oil Terminal at the end of the Baltic Pipeline System.

“‘These are the two major exports sites for Russian oil and they are demonstrated to be within range of aerial drones and perhaps, in the case the Black Sea, their seaborne drones,’ he said. ‘If they really want to cut Russia’s oil income, they would go after those ports and they haven’t—that might be in deference to Americans concerns.’ (Russia Faces Major Gas Headache After Ukraine Strikes, Newsweek, article by Brendan Cole, Mar 25, 2024.)

Last week, Newsweek (USA) twice cited my analysis of Ukrainian drone strikes. In one instance, I had the honor of following an interview with General Ben Hodges, former Commander of US Army, Europe, with whom I concur in regretting the USA opposition.

(Aside: I hope to have an Op-Ed, perhaps tomorrow, in Europe, assessing that (i) the USA’s stated reasons versus Ukraine’s drone strikes to date do not make sense, and (ii) the “elephant in the room,” which must really have alarmed the White House, is that Ukraine’s strikes on refineries ipso facto demonstrate they COULD, if they so chose, disrupt anywhere up to 60% of Russian oil exports. Lastly,(iii) if the USA, EU and allies do not rapidly prepare non-Russian oil-sector producers for this eventuality, a global oil price shock could result.)

Here are the links to last week’s two new interviews/citations by Newsweek:

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