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robert reich
Progressives Say 'No Taxpayer Subsidies' as Big Oil Balks at Trump's Call to Invest in Venezuela
"Trump must not give these companies billions in handouts and stick American taxpayers with the bill," implored Sen. Elizabeth Warren.
Jan 09, 2026
ExxonMobil's CEO told President Donald Trump during a Friday meeting that Venezuela is currently "uninvestible" following the US invasion and kidnapping of President Nicolás Maduro, underscoring fears that American taxpayers will be left footing the bill for the administration's goal of exploiting the South American nation's vast petroleum resources.
Trump had hoped to convince executives from around two dozen oil companies to invest in Venezuela after the president claimed US firms pledged to spend at least $100 billion in the country. However, Trump got a reality check during Friday's White House meeting, as at least one Big Oil CEO balked at committing financial and other resources in an uncertain political, legal, and security environment.
“If we look at the legal and commercial constructs and frameworks in place today in Venezuela today, it’s uninvestable,” ExxonMobil CEO Darren Woods told Trump during the meeting. “Significant changes have to be made to those commercial frameworks, the legal system. There has to be durable investment protections, and there has to be a change to the hydrocarbon laws in the country.”
Exxon CEO: If you look at the commercial constructs, frameworks in place in Venezuela today, it's uninvestable. Significant changes have to be made to these frameworks, the legal system. There has to be durable investment protections and change to the hydrocarbon laws. pic.twitter.com/vpdH6ftfzm
— Acyn (@Acyn) January 9, 2026
There is also skepticism regarding Trump's promise of "total safety" for investors in Venezuela amid deadly US military aggression and regime change.
However, many of the executives—who stand to make billions of dollars from the invasion—told Trump that they remain eager to eventually reap the rewards of any potential US takeover of Venezuela's vast oil resources.
The oil executives' apparent aversion to immediate investment in Venezuela—and Trump's own admission that the American people might end up reimbursing Big Oil for its efforts—prompted backlash from taxpayer advocates.
"Trump must not give these companies billions in handouts and stick American taxpayers with the bill," Sen. Elizabeth Warren (D-Mass.) said on social media Friday. "And oil execs should commit now: no taxpayer subsidies, no special favors from the White House."
Sam Ratner, policy director at the group Win Without War, said Wednesday that "already today, Trump was saying that US taxpayers should front the money to rebuild Venezuelan oil infrastructure, all while oil companies keep the proceeds from the oil."
"This is not just a war for oil, but a war for oil executives," Ratner added.
Noting that "Big Oil spent nearly $100 million to get Trump elected in 2024," former US Labor Secretary Robert Reich—who served during the Clinton administration—described Friday's meeting as "returning the favor" and "oligarchy in action."
According to an analysis by the advocacy group Climate Power, fossil fuel industry interests spent nearly $450 million during the 2024 election cycle in support of Trump and other Republican candidates and initiatives.
Trump shows you his priorities–Big Oil companies.“Running” Venezuela is all about enriching his donors.The American people are done fighting foreign wars to pad the pockets of oil executives.
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— Rep. Jason Crow (@crow.house.gov) January 9, 2026 at 12:35 PM
Reich and others also noted that Trump informed oil executives about the Venezuelan invasion even before he notified members of Congress.
"That tells you everything you need to know: It was never about 'narcoterrorism' and always about oil," Rep. Dan Goldman (D-NY) said on Bluesky.
The legal watchdog Democracy Forward this week filed a Freedom of Information Act request demanding information about any possible Trump administration collusion with Big Oil in the lead-up to the Venezuela invasion.
Other observers shot down assertions by Trump and members of his administration that the attack on Venezuela and Maduro's ouster are ultimately about restoring democracy.
"Want to know who’s meeting with Trump this morning about Venezuela’s future?" Rep. Adelita Grijalva (D-Ariz.) asked on X.
"Not pro-democracy leaders," she said. "Oil and gas executives."
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Pro-Democracy Americans Gear Up for 'No Kings' Day Nationwide
"Don’t miss this chance to be part of the largest expression of free speech we’ve ever had," said progressive filmmaker Michael Moore.
Oct 17, 2025
Organizers are expecting Saturday's nationwide "No Kings" rallies to be among the largest single-day demonstrations in US history, and many activists and politicians on Friday sent messages of encouragement to demonstrators.
Leah Greenberg, the co-founder and co-president of Indivisible, which is one of the main organizers of the demonstrations, told Amy Goodman of Democracy Now! on Friday that she and her group are "engaging in the most American activity in the world, which is coming together in peaceful protest of our government."
Greenberg then addressed attacks from President Donald Trump and other Republican lawmakers over the last week that the "No Kings" events were a "hate America" rally.
"This is a classic exercise of the authoritarian playbook, to try to create fear, to try to threaten, to try to make people back off preemptively," she said. "We're not going to do that... we won't be cowed."
Former US Labor Secretary Robert Reich also hit back at GOP claims that the "No Kings" rallies were anti-American, and he argued that the people attending them will be doing so out of a deep sense of patriotism.
"We’re rallying tomorrow because we LOVE America," he wrote in a post on X. "It's an opportunity for all of us who love this country to express our determination that our nation’s ideals not be crushed by the Trump regime."
Progressive filmmaker Michael Moore encouraged his supporters to take part in Saturday's demonstrations, and he wrote on his personal Substack it was of the utmost importance for Americans to make their voices heard in the face of authoritarian threats from the Trump administration.
"Don’t miss this chance to be part of the largest expression of free speech we’ve ever had," he said. "Time has run out. One year from now, don’t find yourself wishing you had done something. Said something. This is our last chance, the final moment to stop the madness. I implore you to join us."
Several Democratic politicians also expressed support for the demonstrations.
Rep. Pat Ryan (D-NY) blasted Trump and the GOP for attacking the patriotism of the "No Kings" protesters.
"I'll be damned if I'm gonna let the Draftdodger-in-Chief tell me what a patriot is," he wrote in a social media post. "We're STANDING UP, SPEAKING OUT, and FIGHTING BACK. No Kings in America. See you Saturday."
Rep. Jamie Raskin (D-Md.) sent out a video message expressing solidarity with Chicago and Portland, Oregon, two cities in which Trump has tried to deploy National Guard soldiers, and let them know that they fighting against authoritarianism by themselves.
"The people everywhere are standing up, in all 50 states and thousands of towns and cities across America," he said. "We have no kings here, no crowns, no thrones."
A Message for No Kings Weekend: The millions rallying across the country love America and are defending it with joy, wit, defiance and courage. Everyone who stands with us now will win the affection and gratitude of people for all time. pic.twitter.com/xmHD5MjTpm
— Jamie Raskin (@jamie_raskin) October 17, 2025
Sen. Chris Murphy (D-Conn.) accused Trump and Republicans of waging a campaign of intimidation aimed at frightening Americans out of exercising their rights to peacefully demonstrate.
"The Republicans' attacks on the No Kings protests are sickening," he wrote in a post on Bluesky. "To them, only pro-Trump speech is protected. If you oppose Trump, you 'hate America' or you're a 'terrorist.' What they're trying to do is simple: suppress turnout this weekend. Don't let them win."
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'Fighting Fire With Fire': California Puts Retaliatory Redistricting on November Ballot
Democratic California Gov. Gavin Newsom said the move is aimed at countering President Donald Trump's "attempt to rig the 2026 election and redistrict his way out of accountability in states like Texas."
Aug 21, 2025
Democratic California Gov. Gavin Newsom on Thursday swiftly signed legislation passed by state lawmakers to let voters decide this November whether to approve a redrawn congressional map designed to counter Texas Republicans' gerrymandering at the behest of President Donald Trump.
"California is countering [Trump's] attempt to rig the 2026 election and redistrict his way out of accountability in states like Texas," Newsom said on social media. "We're fighting fire with fire—giving the power to the people to fight back and demand nationwide independent redistricting."
The move followed Wednesday's approval by the GOP-controlled Texas Legislature of a Trump-backed plan to redraw the state's congressional map to create five new Republican districts ahead of next year's midterm elections. The California map aims to win five more Democratic seats in 2026.
"Let me be crystal clear, we don't want this fight, and we didn't choose this fight, but with our democracy on the line, we cannot and will not run away from this fight," Democratic Assemblyman Marc Berman (D-23) said prior to Thursday's vote.
National Democrats welcomed California's move, with Democratic National Committee Chair Ken Martin saying: "This isn't just about California. The basic premise of Americans—instead of Donald Trump—choosing their elected officials is at stake."
While some progressives, including former Ohio state Sen. Nina Turner, have spoken out against retaliatory redistricting, many others cheered California's fight.
"The response by Democrats in California to counter-balance is being triggered by a blatant GOP plot to steal the 2026 midterms," former US Labor Secretary Robert Reich wrote on X. "This isn't a race to the bottom. It's a means of avoiding the bottom."Keep ReadingShow Less
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