Markets are betting big on energy majors capitalizing on Venezuelan reserves. Yet between geopolitical friction, infrastructure bottlenecks, and extended timelines, the actual cash return might take longer than the initial rally suggests. For investors tracking macro trends, this is a textbook example of how market enthusiasm often frontrun real-world execution. Commodity cycles move on production data and demand cycles—not just narrative shifts. The gap between market euphoria and tangible payoff remains the real question here.