President Donald Trump is urging U.S. oil majors to rebuild Venezuela’s shattered energy sector, but one veteran trading strategist warns that political promises alone cannot protect assets from future expropriation.
Baron Lamarre, former head of trading at Petronas, argues that unless the industry adopts a “trustless” digital infrastructure to track ownership, relying on “informal assurances” leaves the country fundamentally uninvestable for giants like Exxon Mobil Corp. (NYSE:XOM).
Digital ‘Trust Layer’
While the White House brokers $500 million in initial sales, as per a Reuters report, Lamarre—now co-founder of the International Digital Exchange (Index)—contends that traditional contracts are insufficient in a jurisdiction …