RESOLVING THE LEDGER
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A few weeks ago, I wrote an article comparing the stocks of Chevron (NYSE: CVX) and ExxonMobil , saying I'd rather buy Chevron now. Given the events of the last week, I'm doubling down on that.
Last week, President Donald Trump announced a deal with Venezuela to give the U.S. control of more than 65 billion barrels of that country's proven oil reserves, which is about as much as the total proven reserves of the U.S. Venezuelan Interim President Delcy Rodriguez confirmed the 25-year agreement and said it would involve developing 17 oil fields and drawing more than $100 billion of investment.
Why is that good news for Chevron ? The company appears to be intricately involved in the plan. News outlets are reporting that Chevron is now negotiating a major deal to expand operations in Venezuela.
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