Why ExxonMobil's Venezuela Warning Could Matter for Energy Investors Right Now
ExxonMobil's pragmatic approach to Venezuela could reward investors, regardless of how much oil the company does or doesn't pump there.
Overview
Ideally, the instances are limited, but people do occasionally say things they don't mean. It's one of the flaws of being, well, human.
Perhaps it was a case of voicing something into the universe that wasn't meant when, at the White House earlier this year, ExxonMobil (NYSE: XOM) CEO Darren Woods labeled Venezuela "uninvestable." Not surprisingly, that remark invited a rebuke from President Donald Trump, who threatened to block ExxonMobil from participating in any potential opportunities in Venezuela if it didn't soften its stance.
ExxonMobil's plans in Venezuela are unlikely to mean much for the energy patch in the near term. Image source: Getty Images.
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Originally published at www.fool.com.