Venezuela didn't steal U.S. oil. Here's what happened

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  NPR.

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  When President Donald Trump explained the Nicolas Maduro seizure at his press conference,

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  he mentioned one word a lot.

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  We're going to take back the oil.

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  Yeah, there was a lot of oil talk.

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  As everyone knows, the oil business in Venezuela has been a bust, a total bust.

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  for a long period of time.

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  He said that U.S.

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  companies were going to take what he claimed was American oil.

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  You know, they stole our oil.

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  We built that whole industry there.

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  On Tuesday, the president announced next steps.

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  He posted on Truth Social that Venezuela would turn over between 30 and 50 billion barrels of oil to the U.S.

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  Meanwhile, American oil companies have been either silent or very measured in their comments.

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  A spokesperson for Texas Energy company Conoco Phillips told the Associated Press it would be premature to speculate on any future business activities or investments.

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  So how likely is a Venezuelan oil renaissance?

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  This is The Indicator From Planet Money.

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  I'm Darian Woods.

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  And I'm Waylon Wong.

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  Today on the show, the sticky history of Venezuelan oil that got us here.

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