Trump Says Venezuela to Send Up to $2.8 BN of Oil; US Won’t Rule Out Military Force to Acquire Greenland

Bloomberg Audio Studios, Podcasts, Radio news.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Karen, we begin with the latest out of Venezuela. President
Trump says the current Venezuelan government is turning over thirty
to fifty million barrels of sanctioned oil to the US.
The president announced in a social media post that the
cargoes will be sold at market prices to benefit both countries,
but Bloomberg Steven Stepchinski reports he gave few other details.
Where's this oil going to come from?
Right?
He said as much as fifty million barrels, but he
did say sanctioned oil, which I think indicates it might
not be the Chevron share. So Chevron is able to operate.
They produce about twenty five percent of Venezuela's oil and
they've got a waiver so they're not sanctioned. So this
is likely the other supply that comes out of the country.
Bloomberg Steven Stepchinsky reports the oil would be worth up
to two point eight billion dollars in present up to
fifty days of Venezuelan production before the partial blockade of
the country. Sources tell Bloomberg News president Trump could meet
with energy executives at the White House this week as
he seeks their help in rebuilding Venezuela's oil industry.
Nathan, a delivery of Venezuelan oil to the US would
be a blow to China. It's been the top buyer
of the country's crude. Now, China's foreign ministry is accusing
the US of a quote bullying act. That's after ABC
News reported that the White House has told Venezuela to
kick China, Russia, Iran, and Cuba out of the country
and severe economic ties. The New York Times is reporting
the US is also pressuring Interim President Delci Rodriguez to
force out spies and military personnel from those countries. China
says it has legitimate rights in Venezuela which must be protected.
And Karen the interventions led to concerns about other US
foreign policy plans. The White House says President Trump will
not rule out the use of military force to acquire Greenland.
Let's bring in Bloomberg's John Tuck or at the very
latest on that, John and Nathan.
Whitehouse Press Secretary Caroline Levitt said in a statement that
President Trump and his advisors are discussing a range of options.
Levitt added, quote utilizing the US military is always an option.
This morning, on Bloomberg Television, the Danish parliament Deputy Speaker
Lawrence Christian bra reacted.
Well, people are nervous. You know, we haven't experienced this before,
and certainly not from an ally, so of course there's uncertainty,
nervousness to some extent the anger.
Also a few minutes ago on Bloomberg Television, a former
French Prime Minister Dominique de Viillipan spoke for many in
Europe when he.
Had this to say, the willingness to go forward and
to attack the sovereignty of Greenland would be a red
line for the Europeans, and the Europeans of course, I
believe should say and would say that in no case
they will recognize any sovereignty on Greenland.
Well, he says, it would be an attack on European soil.
Secretary of State Rubio downplay the notion of military action
and briefing with lawmakers earlier this week, instead signaling that
an invasion was not imminent and that the goal was
to buy the island from Denmark. Other US officials have
only continued to intensify their rhetoric. In an interview with CNN,
the White House Deputy Chief of Staff Stephen Miller said
that in a world governed by strength, the US has
a right to take the territory. In New York Home,
John Tucker, Bloomberg Radio.
All right, John, thank you well. Turning to Washington now,
President Trump told House Republicans that they should turn around
their political fortunes ahead of November's midterm elections. The President
warren that if Democrats retake control of Congress, he would
be impeached for a third time. You got to win
the midterms, because if we don't win the midterms, it's
just going to be I mean, they'll find a reason
to impeach me. I'll get impeached. President Trumps rest exasperation
with voters who have given him poor marks on his
stewardship of the country.
Turning to the markets now, Karen, both the Dow and
S and P five hundred enter the day in record territory.
Amanda Gotti is chief investment officer at PNC Asset Management Growth.
Just like we didn't pull the ripcord and get overly
defensive in the spring of last year. There's no reason
to make material changes to portfolios as we start out
the new year. So we're feeling pretty good about how
we're starting out the new year. I think the recurring
theme that investors really need to be focused on is
the purple haze of policy uncertainty. It was the biggest
driver of the market last year. I think maybe for
different reasons, it will still be the primary driver of
markets this year.
It's Amanda Gotti at PNC in Bloomberg's latest Markets Pulse
survey indicates most investors see further stock gains this year.
Sixty percent of respondents predict the S and P five
hundred will climb as much as twenty percent in twenty
twenty six.
Well, Nathan, let's head to Las Vegas now, where we
continue our week law coverage of the CEES trade show
and videos. Says it has seen a strong demand from
China for its H two hundred ships, but the company
is still waiting for approvals from both Washington and Beijing
before sales can start. In video, CEO Jensen Wong spoke
with Bloomberg's Ed Ludlow about communication with the Chinese government.
I haven't spoken directly to them, but ultimately the way
they'll communicate through us to us will be through the companies.
If the companies are allowed to buy in video products
in China, then they'll be strong demand.
Evidia CEO Jensen Wong Tail's Bloomberg It's revenue forecast has
gotten brighter due to strong demand and large customer deals.
Man Ludlow also sat down with the CEO of Advanced
micro Devices Karen That's after the company announced a new
ship for corporate data center use, and the CEO, Lisa Sue,
spoke about the ongoing use of artificial intelligence.
We're in this place where AI is at a reflect
inflection point. We're seeing AI now in every part of compute.
We see it in the largest models, you know, when
you're thinking about things like traction, PT and Gemini and Grock.
You know, we're also seeing many use cases in new
capabilities like you know, video production, entertainment, healthcare where you're
doing drug discovery, all of these various things.
And you can catch Bloomberg Tech host ed Ludlow's full
interviews with AMD CEO Lisa Sue and in video bos
Jensen Wang on the Bloomberg Podcast channel on YouTube.
And finally, Nathan a pretty nice payday for the new
CEO at Berkshire Hathaway. The conglomerate, says greg Abel will
earn an annual cash salary of twenty five million dollars
that for andclipses the one hundred thousand dollars that is
predecessor Warren Buffett earned for decades in the role. Buffett
seated the CEO role to Able this month, and the
billionaire is still serving as chairman of the company. Time
now for look at some of the other stories making
news in New York and around the world. Can forever
joined by Blueberry's Michael Barr Michael good Morning.
Good morning, Karen. House and Senate Democrats gathered on the
steps of the US Capital to mark five years since
the January sixth attack on the Capitol. Senate Minority Leader
Chuck Schumer gave brief remarks, thanking the police officers who
responded that day and excoriating President Trump for the violent
mob action.
Five years ago, a vicious mob tried to undo American democracy.
Also giving remarks, House Minority Leader Hakim Jeffries, and I have.
A simple message for the violent mob of insurrectionists.
Donald Trump may have pardoned your crimes, but only God
can pardon your sin. A small group of demonstrators led
by former Proud Boys leader Enrique Terrio, gathered in Washington
to mark January sixth, calling it the Ashley Babbitt Memorial March.
She was killed inside the Capitol as rioters tried to
break into the House chamber. Terrio also called on the
administration to punish officials who investigated the January sixth rioters.
We're one year into this administration and we haven't seen
a single deep state arrest. So I call on Attorney
General Pam Bondi to do her job.
Some in the ground clash with counter demonstrators as they
marched to the hill. The man identified as the shooter
who killed two Brown University students and an MIT professor
planned the attack for years and left behind videos in
which he confessed to the murders but gave no motive.
Claudio Neves Valente, who was forty eight, is a former
Brown student in Portuguese national He was found dead in
a New Hampshire storage facility after he killed two students
and wounded nine others in an engineering building on December thirteenth.
Two days later, he killed the professor in his home
in the Boston suburb of Brookline. Nick Reiner is set
to be arraigned in court to death. He is charged
in the stabbing death of his parents. Hollywood director Rob
Reiner and photographer Michelle Singer. Global News twenty four hours
a day and whenever you want it with the Bloomberg
News Now Michael Barr and this is Bloomberg Karen.
Thanks Michael.
A time now for our Bloomberg Sports Update, and for
that we bring in John Stashauer.
Thanks Darry.
John Harbrough, coachs of Baltimore Ravens for eighteen seasons went
to the playoffs twelve times, would have gone this year
had his kicker made a field goal the other night. Instead,
the Ravens finished eight to nine, and they fired the
sixty four year old Harbaugh. Dallas fired defense of coreator
Matt Eberflus after just one season. Detroit fired its offensive
countor John Morton after one season. Washington fired both of
its coordinators. Blow out in the NHL That Devil's bit
the Islanders nine and uphing at the Bloomberg Sports Update.
Stay with us. More from Bloomberg Day Break coming up
after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg and the Bloomberg Business app.
This is Bloomberg Daybreak.
Good morning.
I'm Nathan Hager. Oil is on the way. President Trump
says Venezuela is turning over up to fifty million barrels
of sanctioned crude to be sold at market prices, the
latest sign that the US is extending economic influence following
the ouster of Nicolas Madoro. For more, we're joined by
Bloomberg DC Breaking News editor Alexander Pearson. Alex Good morning.
What do we know about this oil shipment that President
Trump says is on the way?
Good morning, Good morning, Nathan.
Yeah, so we know that it'll be about up to
fifty million barrels, which current market prices would translate to
about two point eight billion dollars. So it's not a
huge amount, but it's also not a small amount, and
we don't really have that much in the way of
details other than Trump did say that the proceeds would
go to the US and to Venezuela's benefit, and it
appears to be a sort of first delivery of first
step towards what the Trump and Minster's longer term goal is,
which is to ramp up oil production in Venezuela to
the point where it becomes a source of steady supply
for the United States.
Oh, we know that the President wants US oil companies
to be involved in that rebuilding. Have we gotten any
further information about the White House effort to get them
more involved.
Yeah, So the White House has made this very clear
that they want US oil companies to go in and
invest in Venezuela's oil infrastructure be a big player in
producing the oil there. And we do know that the
Energy Secretary is planning to meet with executives from many
oil companies in the US. And there are also discussions
between the White House and many oil companies about Trump
himself meeting with executives and that meeting could happen as
soon as tomorrow or Friday. So they're certainly reaching out
and trying to get support for this overall initiative.
Now, the executives certainly want assurances, wouldn't they that the
situation in Venezuela is safe? Following Maduro's ouster What more
do we know about the situation on the ground, there.
That's right. So the biggest sort of question mark for
this overall initiative is whether the oil companies will be
willing to follow Trump's lead and actually go in. There
are some there are huge challenges to this. On the
one hand, it will require tens of billions of dollars
to revive what is actually quite a moribund oil industry
in Venezuela. There's been a lot of neglect, a lot
of the machinery is very old and decrepit, and that
will require a lot of investment over many years. So
there's there's a time element to this. But beyond that,
the political situation is still very unclear. We don't really
know right as of now, you know where Venezuela is heading.
It hasn't really settled. And for any oil company, that's
that's a huge risk. They want to make sure, obviously,
if they invest all of this money over many years,
that it is going to be safe, that the US will,
you know, ensure that it remains safe.
Well, we're hearing a lot of reports as well that
the White House is putting pressure on Venezuela to work
more directly with the US and even cut ties with
some of its more traditional partners like China and Russia.
What kind of reaction are we getting from those reports.
So we did get a reaction from China this morning.
And China is notable because it is the biggest buyer
of Venezuelan crude and also the biggest credit to Venezuela,
and the Chinese Foreign Ministry earlier said that, you know,
this was a bullying act by the United States to
have told Venezuela this, and that it has legitimate interests
in Venezuela. So this political realignment that the Trump administration
is also trying to get out of Venezuela is obviously
not going down well with Venezuela's traditional allies.
Okay, in our last minute or so, Alex. While this
pressure continues around Venezuela, we're seeing the White House amp
up the rhetoric as well about acquiring Greenland. How to
take the latest statement on that from the White House.
Yeah, it was a notable statement from the White House
Press secretary yesterday. She said that the White House was
considering a range of options and did not rule out
that a military option would be one of those. She
didn't specify exactly what that would mean, but the statement
alone was, you know, eyebrow raising, especially in Europe, where
there is a lot of anxiety about what Trump administration
officials have said in recent days about taking over Greenland.
That was temperted a little bit by reports that Marco Rubio,
the Sectuary of State, said that this was not the idea.
The idea would be to purchase Greenland. But the uncertainty
alone is causing a lot of anxiety and emotions, particularly
in Denmark, which actually has sovereignty over Greenland and has
said that this is completely unacceptable.
This is Bloombery Daybreak, your morning podcast on the stories
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