ExxonMobil statement, "Thank you, Mr. President, I appreciate the invitation and the opportunity for the entire industry to show up and provide perspective."

With respect to Venezuela in particular, we have a very long history in Venezuela. In fact, we first got into Venezuela back in the 1940s. We've had our assets seized there twice. And so, you can imagine to re‑enter a third time would require some pretty significant changes from what we've historically seen here and what is currently the state."

If we look at the legal and commercial constructs—frameworks—in place today in Venezuela, today it’s uninvestable. And so significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections, and there has to be a change to the hydrocarbon laws in the country.

If push comes to shove? Do they have enough excess funds to do it just to make the president happy even if they know it will fail?