"Venezuela is home to over 300 billion barrels of proven crude oil - more than any other country in the world. That's not the reason President Donald Trump gave, however, for the surprise raid on Venezuela on Saturday that netted its president, Nicolás Maduro, and his wife. The Trump administration said Maduro's capture was a law enforcement operation. Maduro has been indicted on drug trafficking and weapons charges and is now awaiting his first hearing in a notorious Brooklyn jail."
"In a press conference on Saturday, though, Trump said that with Maduro removed from the country, the US would now look to tap the country's oil reserves. "We're going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country," Trump said."
The US captured Venezuelan President Nicolás Maduro and his wife in a surprise raid. Maduro has been indicted on drug-trafficking and weapons charges and is awaiting his first hearing in a Brooklyn jail. The US administration described the operation as law enforcement and announced plans to access Venezuela's oil reserves. President Trump said large US oil companies would invest billions to repair Venezuela's broken oil infrastructure and generate revenue. Venezuela holds over 300 billion barrels of proven crude oil—more than any country—yet produces under 1% of global daily crude and holds roughly one-fifth of world reserves. OPEC data excludes Canadian oil sands.
Read at Business Insider
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