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What to know about Venezuela’s oil infrastructure and what this means for the U.S.

Oakland University professor explains economics with oil

Captured Venezuelan President Nicolás Maduro is expected to appear in court in New York on Monday.

It comes after the United States captured Maduro in a surprise attack over the weekend. He and his wife are charged in the U.S. with narcoterrorism conspiracy, cocaine importation, conspiracy and weapons charges.

President Donald Trump vowed to tap into Venezuela’s oil reserves. He wants American oil firms to put billions of dollars into Venezuela, which has the largest crude oil reserves on the planet.

Trump said the U.S. companies will fix Venezuela’s “badly broken” oil infrastructure. But that fix could be cost-prohibitive.

Oakland University Professor Michael Greiner joined Local 4 Live to give some insight. You can watch the full interview at the beginning of this article.


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