About that Venezuelan oil
There’s been a lot of crowing by Trump about how he’s seizing Venezuelan oil to hand it to American oil companies and skim profits for the United States. What oil, and how much? “ According to figures widely cited throughout the media and the oil industry itself, Venezuela is sitting on around 300 billion barrels' worth of "proved" oil, meaning barrels that have, in theory, been confirmed as commercially viable by conclusive testing or actual production.” *snip* “ This is a self-reported figure, however, and is published — but not verified — by the Organization of Petroleum Exporting Countries, or OPEC, of which Venezuela is a founding member. Holistic and conclusive evaluations by independent experts have never been conducted. “And up until 2007, Venezuela's self-reported proved reserves sat at around 100 billion barrels, according to data reported by OPEC. By 2013, that figure was updated after a reclassification of fields controlled by the country's state-run P...