(The Center Square) — Louisiana could emerge as one of the biggest domestic beneficiaries of a U.S.-backed expansion of Venezuela's oil industry, with refineries designed to process the country's heavy crude and infrastructure capable of receiving massive oil tankers offshore.
The Trump administration is pushing to sharply increase Venezuelan oil production and direct more of it toward the United States. U.S. Energy Secretary Chris Wright said Wednesday that new investments could more than double Venezuela's oil output over the next several years. Chevron separately announced plans to invest $7 billion in its Venezuelan operations and roughly double its production there to 600,000 barrels per day.
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