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	Podcast:		The Indicator from Planet Money
	Episode:		Venezuela didn't steal U.S. oil. Here's what happened
	Category:		Business
	Duration:		00:09:27
	Publish Date:		2026-01-08 08:05:06
	Description:		President Trump claims Venezuela stole American oil. Is that true? We trace Venezuela's oil industry from its 1920s birth through nationalization and then collapse. Today on the show, how did the Venezuelan oil industry get to a point where it’s barely pulling from its reserves? And will anything change now? Related episodes: Venezuela’s economic descent (Updated) Venezuela’s recent economic history (Update) Why oil in Guyana could be a curse For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Julia Ritchey. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy
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