‘Everybody loses’ if production supercharged in country with largest known oil reserves, critics say

Donald Trump, by dramatically seizing Nicolás Maduro and claiming dominion over Venezuela’s vast oil reserves, has taken his “drill, baby, drill” mantra global. Achieving the president’s dream of supercharging the country’s oil production would be financially challenging – and if fulfilled, would be “terrible for the climate”, experts say.

Trump has aggressively sought to boost oil and gas production within the US. Now, after the capture and arrest of Maduro and his wife, Cilia Flores, he is seeking to orchestrate a ramp-up of drilling in Venezuela, which has the largest known reserves of oil in the world – equivalent to about 300bn barrels, according to research firm the Energy Institute.

Americans are increasingly turning to courts to hold big oil accountable. Here are major trends that emerged last year

As the Trump administration boosts fossil fuels, Americans are increasingly turning to courts to hold big oil accountable for alleged climate deception. That wave of litigation swelled in 2025, with groundbreaking cases filed and wins notched.

But the year also brought setbacks, as Trump attacked the cases and big oil worked to have them thrown out. The industry also worked to secure a shield from current and future climate lawsuits.