Trump Meets Energy Execs on Venezuela | Balance of Power: Early Edition 1/09/2026

Summary

On Balance of Power, President Trump met major oil executives at the White House to press a decade-long, roughly $100 billion rebuild of Venezuela's oil industry, with companies seeking security and financing guarantees and officials saying capital would come from the private sector. Coverage also highlighted a double-digit rally in mortgage stocks after Trump's mortgage-bond purchase directive and modest gains in oil majors. A political panel debated Trump's interventionist state-sponsored capitalism and a pending Supreme Court tariff ruling with more than 1,000 company lawsuits queued. Former White House economist Heather Boushey called the jobs report lackluster and predicted the Fed would pause, and a later segment profiled Stephen Miller's expanded policy role.

• Trump hosted major oil executives at the White House to discuss a roughly $100 billion, decade-long rebuild of Venezuela's oil industry.
• Executives reportedly want physical security and financial guarantees; officials said capital would come from companies and markets, not U.S. subsidies.
• Exxon Mobil and Chevron traded modestly higher, Valero fell on heavy-sour crude expectations, and WTI rose about 2.7%.
• Mortgage stocks surged, with Rocket Companies and LoanDepot up double digits, after Trump said he directed a $200 million mortgage-bond purchase.
• Panelists described Trump's corporate interventions as state-sponsored capitalism and debated the coming Supreme Court tariff ruling and 1,000-plus company lawsuits.
• Marc Short said Venezuela owes Chevron, ConocoPhillips and Exxon billions under World Bank rulings, raising payout prospects for shareholders.
• Former White House economist Heather Boushey called the jobs report lackluster and said the Fed will likely pause; Nancy Cook profiled Stephen Miller's expanded role.