Donald Trump was not vague about his reason for attacking Venezuela: it’s about the oil. Wearable oil, too

Skims’s stretchy styles are ultimately “wearable oil”. Photo: Skims

Most of the merchandise of America’s favourite shape wear brand, Skims, are made of good ’ol polyester. And, without doubt, nylon, a synthetic fibre appreciated for its performance properties: stretch, durability, and smooth fit. The same goes for Spanx and the newish Honeylove, as well as athleisure brands such as Alo, Athleta, and Canada’s ubiquitous Lululemon. Skims relies heavily on a high-margin, high-volume model using virgin synthetics, not recycled. Sustainability reports and fabric analyses, such as those by Apart Style, indicate that the vast majority of Skims products are made from synthetic, plastic-based materials derived from fossil fuels, such as nylon, spandex, and polyester. They even described the brand as “borderline fast fashion”. A crucial point about all the synthetic used is that they are all petroleum-based, making the entire industry rather crude.

It’s barely a week after the Trump administration’s military attack on Venezuela on 3 January, so shocking that even the United Nations was unable to harshly condemn it. We can’t say what will happen next, but clear it is that fashion’s chemical dependency matters as much to the CEO of Skims and Lululemon, as they do to the Trump administration’s devoted Joint Chiefs. When Donald Trump unilaterally scrambled to seize control of Venezuela’s oil reserves (the world’s largest), he wasn’t just targeting a regime; he was securing the feedstock—what has been dubbed “wearable oil”—for the American closet. In the 2026 supply chain, geopolitics is the new tailoring. And it’s the crude oil that gives you sports bras and leggings. Nothing says athleisure like a side of refined petroleum and the grit or grime of a Venezuelan oil rig.

In the 2026 supply chain, geopolitics is the new tailoring. It is the crude oil that gives you sports bras and leggings. Nothing says athleisure like a side of refined petroleum and the grit of a Venezuelan oil rig

Kim Kardashian, who has visited the White House several times, must be rejoicing. As Skims (including their collab with Nike) uses mainly virgin synthetics, their production costs are tied to global oil prices and availability of crude-derived intermediates. Venezuela’s reserves, if tapped, could increase supply of crude oil and downstream petrochemicals, potentially lowering costs for synthetic fiber producers. The price of nylon, for example, is tied to global oil and petrochemical prices, not just crude, but also refined intermediates. For Skims, Mr Trump’s Venezuela oil push is not an immediate game-changer. Nylon costs will continue to be driven by Asian petrochemical hubs and global oil markets. But if Venezuela’s oil industry revives in the medium term, Skims could see lower input costs and improved margins. The brand may also find a geopolitical safe-haven in the conflict. As the U.S. asserts dominance in the Western Hemisphere, Skims may find it easier to shift production from Turkey or China to South American hubs, particularly Colombia or Peru, that are now under a more rigid U.S.-aligned security umbrella.

It is, however, not necessarily all rosy for Skims and the like. In a world already weary of the over-reliance on fossil fuels, there could be a sustainability backlash for Skims and co. Ms Kardashian and her cohorts could be criticised for clinging to “old oil”. Even if Venezuelan oil revives, consumer and regulatory pressure could intensify—if it hasn’t already—around sustainability, and scrutinised for petroleum dependence. In fact, recycled nylon (from post-consumer waste, fishing nets, even carpets) has become the material of choice, as Lululemon (even Nike) and, at the higher end of the market, Prada decouple from the wellhead. Green-focused merchandising strategies is now key to Prada’s branding, as seen in their Re-Nylon initiative, introduced in 2019. Seven years on, Prada has reportedly hit its conversion target using what they call Econyl “regenerated nylon”, positioning Re-Nylon not just as a fabric, but as a mutable frame for self-expression.

Prada Re-Nylon bag, featuring the fabric Econyl. Photo: Prada

Since we are looking at the situation hypothetically, let’s also consider that Prada could face their most complex challenge yet. It is easy to think that a recycled product is safe from “oil wars”, but the reality of 2026 is that the economics of recycling are tethered to the price of oil. The price of petrochemicals-dependant virgin nylon may fall if oil prices dip. Econyl and similar processes require energy-intensive depolymerisation, the Achilles’ heel of recycled nylon. If new oil-based nylon is cheap, recycled nylon turns expensive, even if it’s more sustainable. Lower petrochemical prices as a results of plentiful Venezuelan crude would also make recycled nylon less competitive. Prada has built a sustainability narrative around recycled nylon, but if recycling becomes uneconomical, they risk either abandoning it or subsidizing it heavily. While the U.S.-Venezuela action aims to stabilise the “energy backyard” of America, it creates a distraction from the green transition. Recycling was supposed to liberate fashion from oil dependency, but this year, that path forward may not be so clear.

In 2026, the fashion supply chain has effectively become a sub-sector of the global energy market. Recent data from the Changing Market Foundation suggests that 69% of all apparel sold globally is now made from synthetic fibers (polyester, nylon, acrylic), and that will rise to 73% by 2030. The industry is essentially wearable oil. Trump’s move into Venezuela is possibly the most aggressive attempt in decades to secure the feedstock of modern fashion. As so many critics have commented on Donald Trump’s extraordinary New Year attack and abduction, it is really about the oil. The removal of Nicolás Maduro and the subsequent U.S. takeover of Venezuelan oil serves as a massive disinflationary wildcard for the global fashion market. While the move is sold as a way to rebuild America’s backyard, it creates a confusing environment for a market already struggling with low growth and high tariffs. The choice is stark: embrace the ‘Old Oil’ of a revitalised petro-state or the new circularity of the European grid. In 2026, the most important label on your clothes probably isn’t the brand, but the origin of the crude.