President Donald Trump is meeting with oil executives at the White House on Friday. He hopes to secure $100 billion in investments to revive Venezuela’s oil industry. The goal rides on the executives’ comfort with investing in a country facing instability and inflation. Since a U.S. military raid captured former Venezuelan leader Nicolás Maduro on Saturday, Trump has said there's a new opportunity to use the country's oil to keep gasoline prices low. The meeting is set for 2:30 p.m., and is currently set to occur behind closed doors. The full list of executives has not been disclosed, but Chevon, ExxonMobil and ConocoPhillips are expected to attend.
President Donald Trump says American intervention in Venezuela will bring billions of dollars of investment in the country's infrastructure, a revival of its once-thriving oil industry and a new age of prosperity for the Latin American country. But those pledges of future prowess can be hard to digest for Venezuelans living through today's crumbling economy. The International Monetary Fund estimates Venezuela’s inflation rate is a staggering 682%, the highest of any country for which it has data. That has sent the cost of food beyond what many can afford. People typically work multiple jobs just to survive, and still cupboards and refrigerators are nearly bare. An estimated eight in 10 people live in poverty.
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