House Democrats on Friday launched a probe into possible conflicts of interest following the U.S. military incursion into Venezuela last weekend, seeking to learn whether Trump administration officials or oil companies have or will benefit from the situation.
Democratic members of the House Oversight Committee, led by ranking member Robert Garcia, D-Calif., on Friday sent letters to the chief executives of four major oil companies — Chevron, ExxonMobil, ConocoPhillips and Continental Resources — ahead of a meeting with oil executives at the White House that afternoon. Democrats requested the businesspeople provide information to help lawmakers determine “who stands to privately or personally benefit from President Trump’s actions and whether corrupt motives were a driving force in U.S. foreign policy decision.”
The letter comes amid mounting criticism and confusion on Capitol Hill — including from some Republicans — about how exactly Trump plans to rebuild Venezuela’s oil infrastructure and what companies will be investing in the effort. Trump has said the U.S. likely would be running Venezuela and extracting its oil for years, despite doubts from some executives about the feasibility of such a plan.
In a surprise move, the Senate advanced on Thursday a war powers resolution designed to limit U.S. military actions in Venezuela, with five Republicans supporting the measure. The Senate still has to pass the legislation, and it would then go to the House. Regardless of the measure’s fate, it represents significant pushback to Trump’s unilateral action in Venezuela, which was launched without informing lawmakers.
Rep. Bill Huizenga, R-Mich., during a classified briefing with Trump administration officials earlier this week, asked how exactly Trump planned on rebuilding and running Venezuela’s oil infrastructure, and what companies would be putting the oil on the market, according to four people familiar with his comments.
He “expressed concern about where the funding would go,” and “who would control the funding,” said a member who also attended the briefing.
House Democrats have little investigative authority to probe the administration’s aggressive pursuit of Venezuelan oil assets without buy-in from their Republican counterparts. But Garcia’s letter is part of House Democrats’ broader plans to investigate the private sector’s dealings with the administration if they take back the House in November midterms — and have subpoena power. Senate Democrats earlier this week also requested information from major oil companies, asking them to disclose all discussions with the administration regarding Venezuelan oil assets.
Democrats are seeking communications between oil companies and the White House and other agencies; a description of requests made by the companies to the Trump administration related to Venezuela; assets the company might have in the country; and information regarding the potential for oil extraction.
Lawmakers also requested information related to the Friday meeting, including who attended the meeting and any materials shared with attendees in advance of, during and following the meeting, along with any communications with Paul Singer, “or any employee of Elliott Management regarding Venezuela.” Singer is the founder and president of Elliott Management, a private investment firm that won a bidding war for Citgo Petroleum, a refining firm owned by Venezuelan national oil company, Petróleos de Venezuela S.A. Singer is also an influential GOP donor who backed pro-Trump efforts in 2024.
The letter notes the close relationship between Trump and big oil companies that predates his return to the White House, citing a May 2024 meeting between Trump and oil executives at Mar-a-Lago where he promised favored regulations, taxation and returns in exchange for $1 billion in campaign donations.
So far, oil and gas companies have seen loosened regulations and significant tax breaks since Trump’s victory. But the appetite for committing resources to boost Venezuelan oil production and run Venezuela and its oil infrastructure, remains unclear. Trump has repeatedly said that U.S. oil companies would spend at least $100 billion to rebuild Venezuela’s oil infrastructure.
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