How true is Trump's accusation of oil theft against Venezuela?
US President Donald Trump's "Venezuela stole America's oil" comment actually highlights the breakdown of the century-long relationship between the United States and Venezuela, which is dependent on oil. Venezuela's oil has never been directly owned by the United States, but it was once central to America's energy security. After the discovery of oil in 1922, the country quickly became an oil power, but the sector was weakened by nationalization, mismanagement, falling oil prices and sanctions. According to analysts, today's conflict is largely the result of the breakdown of that old dependency relationship.
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