In a recent interview on 'Squawk Box,' New York Times opinion columnist Tom Friedman argued that U.S. oil companies require a dedicated legal framework to resume operations in Venezuela. He emphasized that without clear legislative authority, firms face risks related to sanctions compliance, asset expropriation and contractual disputes. Friedman noted that past shifts in Caracas underscored the need for U.S. lawmakers to draft targeted provisions—potentially a special-purpose entity or shield—to allow public and private energy firms to invest safely. He warned that, absent such a structure, any move to tap Venezuela’s substantial reserves could falter amid regulatory uncertainty and geopolitical tension.