Overview
- Following reports that U.S. forces captured Nicolás Maduro and President Trump urged American investment, Michael Burry said markets are overlooking the long-run impact.
- Burry wrote that the “game just changed,” reiterated he has owned Valero since 2020, and argued the U.S. economy could gain as control of heavy crude reshapes supply dynamics.
- Valero shares rose about 10% on Monday while benchmark oil edged up less than 1% and U.S. stock futures traded higher.
- Burry highlighted that many Gulf Coast refineries were built for Venezuelan heavy crude and could see better margins over time if those barrels return.
- He pointed to likely work for U.S. oilfield contractors such as Halliburton, Schlumberger, and Baker Hughes, cited geopolitical ramifications for China and Russia, and noted long-running claims by companies like Exxon could move toward resolution.