The U. S.
Doesn't Have a State Owned Oil Giant, But in Venezuela, the Federal Government Will Control a Company with the World's 2nd Largest Reserves The Trump administration's agreement with Venezuela to control 65 billion barrels of oil reserves is being touted as a major coup, but it also comes with significant risks and uncertainties.
The U. S. has long been the world's largest oil producer, yet we've never had a state owned national champion like many other top oil producing countries.